Quote:Hole punches are great for inserting your printed documents into a binder neatly. Hole punches are not, unfortunately, so great when they accidentally cut off different words throughout your work. You can easily adjust your Word document’s margins to make room when using a hole punch or printing to pre-punched paper.

To leave room for a hole punch, you’ll need to adjust the layout of your document. It’s better to do so ahead of time so you can see how moving the margins affects the layout of your document.

To know how large to make the margins, consider the size of your hole punch or pre-punched paper. Most hole punches (whether you’re punching two holes at the top or three holes on the side of the page) punch about 0.5 inches from the edge of the paper. We recommend measuring your punch or paper to make sure and maybe even making the margins just a bit bigger. If your punch does measure out at 0.5 inches, for example, you might want to make your margins 0.75″ to be on the safe side.

Full reading: https://www.howtogeek.com/393978/how-to-print-in-word-to-leave-room-for-a-hole-punch/