How to make captured video files smaller?

[blahblahblahblahblah]

How do I configure VLC so video captured from a webcam doesn't create huge file sizes? I spent a few hours Googling this and can't find anything.

Thanks

[Rémi Denis-Courmont]

Transcode wizard at Media -> Convert/Record

[blahblahblahblahblah]

Transcode wizard at Media -> Convert/Record

There is no such menu item. The closest is "Convert/Save" and it doesn't have anything called Transcode Wizard.

Then what do I do? I need a step-by-step walk through.

[Jean-Baptiste Kempf]

Convert/Save starts a small wizard-like interface

[blahblahblahblahblah]

Convert/Save starts a small wizard-like interface

And then what do I click on? I don't know what any of the stuff in there is.

All I know is my videos are coming out at about 1 Gb per minute (not a typo...1 Gb) and they should be somewhere around 1 to 10 Mb per minute, roughly.

[blahblahblahblahblah]

Convert/Save starts a small wizard-like interface

Oh and also, I'm not even seeing a wizard at all. I see an ordinary 'options' interface where you can check boxes, enter numbers, etc., but no wizard.

Wizards present plain-English questions that pop up one after the other in a linear A > B > C > D series so the user never makes more than one choice at a time. If it was a wizard the first box might say, for example:

"What do you want to do?

- Make a video using my webcam

- Record streaming video I am watching on the internet

- Convert a video file from one format to another"

... and then it would take you to next thing to set up.

Typically wizards prevent the user from encountering specialized options altogether (video input chroma format'?!?) and instead use defaults suitable for the most common purposes.