So I am new to the digital scrapbook world and I was wondering what is the best file extension to save you work as? I'm working in Photoshop Elements 10 and there is a lot of different file extensions to choose from. I am noticing when I am down loading buttons, frames and what not, the file extension is a .png or .psd. Is there a rule of thumb what to save stuff as?
Thanks a bunch for your input!