I got rid of office from our home machines this summer. We used to have a family subscription. These can be gotten for less than the list price from resellers on Amazon and eBay and probably other sources too.
The supplied Mac stuff we have is fine for the odd letter, poster, and budget management. And the children have had office via school/college/university for years.
If I were on PC I’d likely use LibreOffice as folks propose. Unless I needed the cloud features that MS provides. That 1TB of OneDrive for each family user is handy. But the environmental costs of ‘the cloud’ should not be underestimated.