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In this video tutorial, options for saving files are demonstrated, focusing on different file types and auto-save settings, particularly for Microsoft 365 users regarding version history. When creating a new workbook, it is assigned a default name (e.g., Book1.xlsx). To save the workbook, go to the File tab and select Save, or use the shortcut Ctrl + S. Upon the first save, a dialog box appears to choose the save location and to name the file. The .xlsx extension is automatically added, and while naming, you can skip the extension. Various file types are available for selection, with .xlsx being the default. If macros are present, save it as .xlsm, or options like binary and .csv are also available.