I think time management is one of the most important aspects. For example:
Instead of watching the news on television, you can read the news in free papers on your way to work or while eating breakfast. And reading the news has many advantages over watching the news. Like read whatever you want, how much you want, when you want. So this way, you spare half an hour time watching television to be informed of stuff you don't even care about. \
And while you're cooking, you can quickly throw some smelly clothes in the washing machine.
Want to see a movie? Television shows the same old crap over and over again. Instead, you could go to the cinema so you're going out at the same time. And as a bonus, you get a better movie experience then any 1000 dollar tv can give you.
Furthermore, people who work hard don't waste their time on the internet, except for Mehdi, because the internet is his work.

Now the catch is that it isn't easy, at last in my opinion, to live a lifestyle as efficient as a described. After all, most of us are lazy, like to waste their time and live by conventions. Like, when you tell somebody you don't have a tv, they look at you as if they've just seen a ghost. Because having a tv is a convention and many people like to see how Uri Geller pulls a ridiculous trick that could as well be pulled by a 5 year old.