Windows 8 Installing Microsoft Office 2007 on Windows 8

Is it possible to install Microsoft Office Standard 2007 on Windows 8? If so then how? I have a physical disk and valid product key and I really don't have the money to buy a newer version of MS Office. When I try to install Microsoft Office Standard 2007 I enter the product key and hit continue, agree to the terms of the agreement, click continue then hit install now and it tries to install Microsoft Office Standard 2007, but after a few minutes I get this message:
Microsoft Office Standard 2007 encountered an error during setup

There is no explanation of what the error is or a place to find out what the error was, so I have no way to know what the error was. I have even tried troubleshooting compatibility using the recommended settings which were: Windows XP (Service Pack 3) as I even ran it as an Administrator and still get the same error. Help!
 
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I have not encountered any problems with the installation.
However, this caught my eye: "and I really don't have the money to buy a newer version of MS Office."

You don't really have to. I deal a lot with helping old people on pensions (I think that includes me!). We all have to watch our wallets.There are several really good alternatives to MS Office.

Rather than read my waffle, Have a look here:
9 Of The Best Free & Low-Cost Alternatives To Microsoft Office

I have tried most. Currently I am recommending Libre Office, for a complete deal and , a little more lightweight, but excellent, is Kingston
Both can read and write .docs.
 
For some reason I'm issues with the installation. I'm not old and not on pensions I'm disabled, can't work and I get SSI which I live off of. I have tried Open Office which I don't like, so I will try either Libre Office or Kingston as you suggested, thought I do like Microsoft Office, I guess I could save up and buy a newer version of Microsoft Office.
 
" I guess I could save up and buy a newer version of Microsoft Office."

Can't disagree with that! I am not a great typist or letter writer, and MSO does far more than I need. Wordpad is almost enough for my use. But ver 2013 is a great program.
 
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