Latex handles the formatting for you to suit the style you want best. You just need to mark the text to say that this is a paragraph, a section, a subsection, and so on. If you're working a lot with formulae, Latex is king. It allows you to simply change the way your formulae looks throughout the document. In a program like Word, you would have to manually go through the entire document and do this by hand while in Latex you just need to change a line or two and it will get applied to the entire document.
You can also define your own styles and apply them to the entire document.
And it's free. Can't beat free
