No, you'll not save space. The varchar data type in VFP is stored the same way as char data type. The only difference is that varchar is padded with CHR(0) and char is padded with spaces.
The varchar was introduced mainly for compatibility with MS SQL server.

>I thought the varchar field type would save space in the file size of my table?
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>I have a table that has thousands of records and many character fields, I thought by changing the character fields to varchar the table size would be reduced?
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>Have I got this all wrong?