Fix SSMS Error - The automatically saved settings file ‘\\Settings\CurrentSettings-YYYY-MM-DD.vssettings’ cannot be found.

When you try to Open or Close SQL Server Management Studio after an upgrade or fresh installation of SQL Server 2008 R2 you might get the below error which states,

The automatically saved settings file '\\Settings\CurrentSettings-YYYY-MM-DD.vssettings' cannot be found. You can change this file on the 'Import and Export Settings' Tools Options page. The IDE will use your most recent  settings file for this session.

However there is no option "Import and Export Settings" in SQL Server Management Studio.
So to Fix this error,

1. Open Registry Editor
2. Navigate to the location HKEY_CURRENT_USER\Software\Microsoft\Microsoft SQL Server\100\Tools\Shell
3. Edit the value of the Reg Key "VisualStudioLocation" to  %USERPROFILE%\Documents\SQL Server Management Studio
4. Close Registry Editor

Now when you open or close SQL Server Management Studio, You will not get the error.