A cheaper version of Office 365 is now available, not that you considered it....

If you don’t need the family plan offered by Microsoft’s Office 365 Home Premium, relax—Microsoft announced an individual subscription on Thursday.

Dubbed Office 365 Personal, the new Office subscription works with just a single computer (either a Mac or a PC) and a tablet. Instead of paying $9.99 per month ($99 per year) for Office 365 Home Premium, Microsoft is charging $6.99 per month, or $69.99 annually, for the Personal version. The new subscription option will arrive later this spring, Microsoft said.

Microsoft will continue to offer Office 365 Home Premium, but will tighten the name to just Office 365 Home when the Personal Edition becomes available, the company said. The name change also reflects the fact that Office Home is, in fact, designed for a home, with licenses for up to 5 PCs or Macs, plus an additional 5 mobile devices such as phones or tablets. Office Personal, naturally, is for those without additional family members. Whether one chooses Office Personal or Office Home Premium, however, Microsoft will still offer them 60 minutes of free international Skype calls per month and 20 GB of OneDrive storage.