TL;DR: Replace Microsoft 365 with a lifetime of Microsoft Office for Mac for only $39.99. Sale ends January 12 at 11:59 p.m. PT.
Not everything has to be a subscription. Sure, you might need Microsoft apps like Word, Excel, and PowerPoint for work or school, but Microsoft 365 isn't the only way to get them. It's definitely not the cheapest way in the long term.
If you want to ditch the subscription, there's a sale going for a lifetime license to Microsoft Office Home and Business for Mac...