Free TV is getting to be a distant memory, but with cable and DVR costs running hundreds of dollars a year on average, you might be paying more for TV than it is worth. In today's economy everyone is looking to save, and it might be time to ditch that cable box. With services like Hulu, it is easy to watch movies or TV for free -- a simple way to reduce entertainment costs.

Hulu.com was launched two years ago by FOX and NBC to provide free TV online, and it carries a lot of current programs. Because the content is always available on the site, there is no need to DVR popular programs like 'House' and 'The Daily Show.' If you want something deeper like classic films and documentaries, Hulu.com also allows you to watch free movies online. These older movies are great for film buffs or a family looking for a way to pass a rainy afternoon at no cost.

I myself have incurred extra costs over the years by buying my favorite old TV series and movies on DVD. But these costs may become a thing of the past for me, and even the idea of paying $20 a month to Netflix seems unnecessary. If you are looking for a new way to save in this economy, you may want to consider trading your cable box, Netflix and DVR service, and using Hulu. Hulu is a legal way to watch movies or TV for free online, and because it is backed by the TV industry, it has a stable Web site that works well and has a lot of features that enable you to watch free TV and movies in comfort. And did I mention: It's FREE TV! What more can you ask?

Now that's a smart money move.