OpenOffice is a free software that can replace Microsoft Office totally.
I'm working with OpenOffice for some years now and I do not miss anything! Its really great! OpenOffice can read the Microsoft Office files and is abele to write files in Microsoft Office format. So you are still able to exchange files with users who still only work with Microsoft Office.
Have a look at it and try it out! Its no problem to install OpenOffice parallel to Microsoft Office on your computer!
There are also many free templates out there for OpenOffice. Really great ones making your life easier with OpenOffice.