1. To strike out on one's own from an overly involved or suffocating relationship, usually between a parent and child. A shortened version of the phrase "cut the umbilical cord." I love my mom, I truly do, but she used to call me five times a day! I had to cut the cord. Geez, Pete, you're 40 years old. It's time to cut the cord and stop living with your parents!

2. slang To cancel one's cable service. Dude, I finally cut the cord and I don't miss it at all.