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In this video, options for saving files in Excel are demonstrated, including various file types and auto-save settings. For Microsoft 365 users, version history is also covered. When creating a new workbook, it is initially named book1, book2, etc. To save the workbook, go to the File tab and click "Save," or use the keyboard shortcut Ctrl + S. The first time you save, a dialog box opens to select the saving location and name the file. The .xlsx extension is automatically added upon saving, but it's not necessary to type it. Various file types can be chosen, with .xlsx as the default; for workbooks with macros, .xlsm is recommended, along with other formats such as binary and CSV.