Foxfire Tabs, Elucidate please.

I have used Firefox a little bit in conjuction with IE, and am now ready to stay with Firefox, except for those few instances that are designed to be browsed by IE. But I must admit I am a little puzzled regarding the use of Tabs, probably because I don't understand the language. Line me up please, does this mean I could put a tab to easily reach Excel, one for My Documents, for Eudora and/or Thunderbird, My Pictures, etc. from the Firefox home page? Sounds like a winner it that is the way it works, and hopefully they explain how to do it for me. I eagerly await your reply. Woody