Save a new worksheet directly in the desired folder

If you want to create a new workbook in some folder and you are already there, then instead of clicking on excel icon and then making your way to the folder by clicking down through the folders until you reach the desired location where you want to save your file. Simply right click in the desired folder and then select New and choose microsoft office excel worksheet. And just rename it.

This will be very handy especially if takes too many clicks to navigate to a desired location when a folder contains too many sub-folders.
Plus, this would not only give you the option to create a new worksheet but also a new folder, text file or a word document.