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In this video tutorial, options for saving files in Excel are demonstrated, covering different file types and auto-save settings. When creating a new workbook, it is initially assigned a default name like Book1 or Book2.xlsx. To save the workbook, users can click the File tab and select Save, or use the keyboard shortcut Ctrl + S. On the first save, a dialog box appears for selecting the folder and naming the file. The .xlsx extension is automatically added upon saving. Users can choose from various file types, with .xlsx as the default. If macros are present, files should be saved as .xlsm. Other options include .csv and binary formats, providing flexibility in file saving.