Here's the short list of the best shortcut keys to know. If you learn only these key combinations, you're guaranteed to save time.
1. Ctrl+X, Ctrl+C, Ctrl+V = Cut, Copy and Paste respectively. These work in virtually every Windows program. Learn them, use them, save LOTS of time and mousing around in the Edit menu.
2. Ctrl+B = Apply Bold. Highlight text then click Ctrl+B.
3. Ctrl+I = Apply Italic. Same idea as adding bold, except it adds italic instead.
4. Ctrl+Y = Repeat the last action. Say you just added a row to a table. Click Ctrl+Y and add another one.
5. Ctrl+spacebar = remove all local formatting. If text looks weird, it could be because you accidentally added something. It's also good consistency. You can make sure that the only formatting you're applying is the stuff you've set up in your styles.
6. Shft+F3 = Toggles case. Use Shift+F3 to switch case from UPPER, lower, and Initial Caps.
7. Ctrl+Home, Ctrl+End = Move to the top and bottom of a document, respectively.
8. F8 + arrow keys = Select text. Sometimes selecting large bodies of text with the mouse is a big pain. Use F8 in conjunction with the arrow keys or Page Up and Page Down keys to select it more easily.
To change the default character formatting:
1. Choose Format, Font.
2. Choose a font name in the Font box, change the size, or change formats.
3. When you finish changing the default formatting, click the Default button.
4. When Word displays a dialog box asking you to confirm that you want to change the default font for the current template, click Yes.
5. Word immediately makes changes the current document. If Word later asks you to confirm changes when you close the document, choose the Yes button again.