BleepingComputer.com: Newly Installed, Giving Problems With Excel

I have recently installed Vista onto my computer. After reading a bit I found what the [compatibility mode] sign meant on top. But now a problem rears up.
Whenever I try to save a file after a bit of editing, it says[Note:F:\ is the name of the drive the .xls file is found in].

"Microsoft Office Excel cannot access the file 'F:\'. There are several posible reasons: 1.The file path does not exist 2.The file is being used by another program 3.The workbook you are trying to save has the same name as a currently open workbook."

I am the Admin and only user on this comp so I have access so that can't be the reason. If I try changing the name and saving as a different file it says

"F:\changed filename.xls
You do not have permission to save in this location.
Contact the Administrator to obtain permission.

Would you like to save in the Documents folder instead?"

If I try to update it to Excel 2007 format, it says

"Microsoft Office Excel cannot access the file 'F:\Some random number and letter mix'. There are several posible reasons: 1.The file path does not exist 2.The file is being used by another program 3.The workbook you are trying to save has the same name as a currently open workbook."

Could you please tell me what is wrong?

Anirudh

What device is located at F: ? The system is telling you that you don't have the rights to use that location.

What device? F:\ is just another hardrive. It was saving all along in XP.

Have you taken ownership of the files on the drive? If the drive uses NTFS, the permissions to access those files may be restricted to the profile that you're using on XP. I'd suggest taking ownership of those files and giving everyone "read" access to them.

You can take ownership by right clicking on the drive and selecting "Properties", then select the Security tab, then the Advanced button, then the Owner tab, then the Edit button - then assign ownership to your profile (and make sure that the "Replace owner on subcontainers and objects" is checked.

After exiting this dialog, you'll be able change the permissions (from the Vista installation) to allow "Users" from the XP installation to access the info.

Not working. I'm still getting the same message when trying to save..