Not doing print. I'm disappointed, but my income tanked in 2020 and I couldn't justify it.
Sorry to hear about the income - it was a tough year. Fingers crossed for your for better times ahead.
At least formatting in Word is free money-wise, even if it does cost me in patience!
Formatting for print in Word is all about styles.
Create a dummy file with 1 chapter of a book. (You don't need a TOC for fiction). Make sure your page size is set then tweak margins as needed. (You'll also want to make sure pages are facing.)
Name the styles something like: Title, author, copyright, series page, first paragraph, paragraph, chapter heading, chapter subtitle, scene break, and after scene break. (I also create backmatter styles.)
Now it's just a matter of adjusting those styles to the look you want. Once you have the look you want, save it as something basic. This is basically your book template. Just open it, save it as something new, pop your book into the document, and apply styles. For the most part this will work pretty well. In Windows you can select keeping widows and orphans together, which frankly is easier than keeping a squared bottom.
It takes patience to get that template built, but once you have it set, it makes setting up a print book incredibly easy. (I actually think Word does a better job than Vellum when it comes to print just because you can make adjustments you can't do in Vellum.)