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To put it simply, a staging site is a clone of your live website. It enables you to test any changes or major new features that you plan to implement in a secure environment. Developers often use staging sites as a testing ground in order to prevent errors occurring on ‘live’ websites, thus avoiding the issues and/or downtime that might otherwise result.
WordPress has three option for themes Custom, Paid and Free. Find out the pros and cons of these three and understand what points you need to keep in mind while choosing a theme.
This post contains links to WordPress resources I have learnt from.