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In this video tutorial, the presenter discusses options for saving files, including various file types and auto-save settings, specifically for Microsoft 365 users. When creating a new workbook, it is initially named Book1, Book2, etc. To save it, users should navigate to the File tab and click "Save" or use the shortcut Ctrl + S, which prompts them to select a folder and name the file. The .xlsx extension is automatically added, and users can choose from several file types such as .xlsm for macro-enabled workbooks, binary, or .csv. The video encourages viewers to explore the different file type options available.