Should I use Microsoft Word on a Mac or a cheaper alternative?

Ed doesn’t want to pay an annual subscription for Office 365 and he’s looking for a compatible rivalI chose Microsoft Word for Mac when I switched to a MacBook Pro some years ago. As a writer, I have a very large number of Word files, but with Microsoft moving to an annual subscription model, the cost of remaining with Word is looking prohibitive.Is there is a cheaper way of carrying on with Word, or, failing that, an alternative word processor with which I’ll still be able to