What's on your floor can add to the decorating style but if you can not afford new floors in your living room then you can mask your current floors with small rugs with a contemporary design - either a geometric print or a plain sisal rug. If you are lucky enough to be able to afford new floors check out bamboo floors or slate or clay tile. Sleek lined furniture with chrome accents goes nicely with this look and you might try shopping at consignment stores if you are short on cash.
The main way to make sure that your furniture works well together is to ensure that there is a common 'theme' running through each and every item that is in a particular space. The theme can be color texture style period of construction or something entirely different.
A vital element when decorating your living room with a contemporary theme is your wall treatments. For this design style the colors can make or break the look - consider adding shades of browns and black or a sharp black and white look to the room. Try using a neutral color paint on the walls or if you want something different go with a leather or suede wall covering.