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In this video tutorial, various options for saving files in Excel are demonstrated, including different file types and auto-save settings. For Microsoft 365 users, version history is also reviewed. When creating a new workbook, it initially has a default name like Book1 or Book2.xlsx. To save the workbook, access the file tab and select "Save," or use the keyboard shortcut Ctrl + S. On first use, a dialog box appears, allowing you to choose a folder and name the file. The .xlsx extension will automatically append when saving. Users can select from multiple file types, with the default being .xlsx. If macros are present, the workbook should be saved as .xlsm, while other options like binary or .csv are also available.