How to use Settings for WinForms

There are times when we want to save user preferences, setting or other types of data.
This can be done using WinForm User/Application Settings.

Example Use:

// Set the value and save
Properties.Settings.Default.TargetFolder = textBoxDir.Text;
Properties.Settings.Default.Save();

public Form1()
{
    InitializeComponent();

    // use the value
    if (Directory.Exists(Properties.Settings.Default.TargetFolder))
        textBoxDir.Text = Properties.Settings.Default.TargetFolder;
    else
        textBoxDir.Text = DefaultDirectory;
}