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Default Backup Excel Spreadsheet

I want to backup spreadsheets as I go along...

I found that if I use File | Save As | Tools | General Options | and check
the box "Always Create a Backup".............

It creates a separate new backup everytime I make changes...the folder ends
up full of them.

Questions
1. Is there a way to have it just update the one backup?

2. What would the reason be for creating lots of separate backups.

Comment
Any other useful suggestions worth considering would be appreciated
 
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