Her "Love Don't Cost a Thing," but skipping out on her scheduled New Year's Eve performance in Miami will cost Jennifer Lopez a pretty paycheck of one million dollars,

The singer has cancelled her concert appearance to instead spend the holiday at home with her family, according to reports.

Jennifer Lopez taking some downtime

Its been a busy year for J.Lo in between her Las Vegas residency at Planet Hollywood, hosting on "American Idol", endorsement deals, concert obligations and filming for her drama series "Shades of Blue." With such a hectic year coming to a close, she ultimately decided she wanted to ring in the New Year with her family and it was worth forgoing the seven figure payday to do so.

The 47-year-old will be now be celebrating New Years Eve with her loved ones at her luxurious Bel-Air mansion, which she purchased a few months ago for $28 million dollars. With all the work she's recently done, Jennifer Lopez has raked in an approximate $39.5 million dollars in the past twelve months alone. Turning down this one gig for the much wanted personal time was something the starlet could afford to do.

Love is in the air for J.Lo?

Since her August break-up from back-up dancer Casper Smart, Jennifer Lopez hasn't been romantically linked with a new love. The on-again, off- again couple dated since 2011. However, the recent rumour mill has her linked to Drake. According to sources from TMZ "it's only a matter of time before she strikes up a romance with Drake".

He attended her Las Vegas show earlier this month, posing for pictures backstage afterwards as well as posting some coy snaps complimenting her assets. Jennifer was one of the guests this past Monday at a private party in West Hollywood held by Drake. The 30-year old Canadian rapper split from girlfriend Rihanna in October. With newly single Drake and J.Lo partnering on a musical collaboration coming down the pipeline, the timing just might be right to mix business with pleasure.

Who knows, Drake may be one of those 'loved ones' invited to J.Lo's intimate New Year's Eve soiree.

Don't miss our page on Facebook!