Publishing locally allows you to create a folder on your computer's hard drive containing all the files that make up your whole website.
To publish locally, go to the 'Publish' menu and select 'Publish Locally...', as shown below.
Next, use the 'Browse For Folder' window that appears to find the folder location you would like to publish your website content to. If you would like, click to create a new folder in the current location and give it a name.
When you are happy with your folder location, click to commence publishing your website at the selected location. You may get a message asking that current folder contents may be overwritten, as shown below. Click to commence publishing.
Once your website has finished publishing files to your selected folder, you will get a confirmation screen, similar to the one below, informing you of a successful local publish.
When you see this message, your web site name will be shown at the start of the message, and the folder location at the end of the message. Click to close this window. You have now successfully published your website locally!