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In this video tutorial, options for saving files in Excel are demonstrated, including different file types and autosave settings, along with a look at version history for 365 users. Upon creating a new workbook, it defaults to names like Book1 or Book2.xlsx. To save, go to the File tab and select Save or use the shortcut Ctrl + S. The first time you save, a dialog box appears to choose the folder and name of the file. While a name is required, the .xlsx extension will be added automatically. Users can select from various file types, with .xlsx as the default. For workbooks with macros, saving as .xlsm is recommended, and options also include binary or CSV formats.