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In this video tutorial, options for saving files in Excel are demonstrated, including file types and auto-save settings. For Microsoft 365 users, version history is also covered. When creating a new workbook, it is initially labeled as book1 or book2.xlsx. To save the workbook, users can go to the File tab and click "Save" or use the Ctrl + S shortcut. The first time this is done, a dialog box appears to select the save location and rename the file, though appending ".xlsx" is automatic. Users can choose from various file types, with the default being .xlsx. If the workbook contains macros, saving as .xlsm is recommended, and options like binary and .csv are also available.