You´re welcome
Here's a more detailed explanation:
FM - USER DATA FOLDER
All right.. When you first install the game, it places your custom databases, games, saved tactics, all sorts of things in a place commonly known as the "User Data Folder"
The standard location of that folder is:
C

Documents and Settings\<USERNAME>\My Documents\Sports Interactive\Football Manager 2007
(I seem to have messed up the location earlier, sorry about that)
In this folder you should see some subfolders, corresponding to their function.. "db", "games", "tactics", etc..
Now when you start FM and go to "Preferences" you can either change the location of the User Data Folder or leave it as it is. But remember that the game looks for the Databases stored in the "db" folder.
EDITOR - USER DATA FOLDER
When you start the editor, you can also set the location of where you want to save your future databases, by going to Edit -> Options and setting the path there. You want this path to be the same as the "User Data Folder" described above.