How do I update default paragraph settings in Microsoft Word?

Summary:
If you would like for your default paragraph settings to be single spaced instead of double spacing, please follow the instructions below to change your default settings.
Solution:
Open Microsoft Word
Click on Paragraph
Make the changes that you would like to make in the corresponding fields.
Click the Default button at the bottom
When the window pops up asking if you would like to make the changes to the NORMAL template, select yes.