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In this video, the presenter demonstrates options for saving files in Excel, covering different file types and auto-save settings, specifically for Office 365 users discussing version history. When creating a new workbook, it defaults to names like Book1 or Book2.xlsx. To save, go to the File tab and click Save or use the keyboard shortcut Ctrl + S. The first time you use Ctrl + S, a dialog box will open, allowing you to select a folder and name the file. It's not necessary to add .xlsx to the file name, as it will be appended automatically. Users can choose various file types, with .xlsx as the default. For workbooks with macros, saving as .xlsm is recommended, with options for binary and CSV formats available as well.