Word Quick Parts

Under the Insert tab in the text section is a section called Quick Parts

For example :

Select some text that you may use a lot and might even have some  complex indexing scheme that requires  a minor change such as a date:

Select Quick Parts  Save selection to quick parts Gallery.

You can set it up as a Quick Parts gallery but I prefer AutoText.

Create a name and a category. Since I am using this a a Heading Separator I left it as ******* 

Select ok

Next time you want to use the text go to quick parts select Building Blocks Organizer

And select your created Building Block and hit  insert

Result:

We can modify just the date

Change out of Paragraph view

To view  normal

All the formatting and indexing is inserted and we only had to change the date

Paragraphs, anything you use can be recreated and make minor modifications if necessary