Save bitmap to location

try (FileOutputStream out = new FileOutputStream(filename)) {
    bmp.compress(Bitmap.CompressFormat.PNG, 100, out); // bmp is your Bitmap instance
    // PNG is a lossless format, the compression factor (100) is ignored
} catch (IOException e) {
    e.printStackTrace();
}

You should use the Bitmap.compress() method to save a Bitmap as a file. It will compress (if the format used allows it) your picture and push it into an OutputStream.

Here is an example of a Bitmap instance obtained through getImageBitmap(myurl) that can be compressed as a JPEG with a compression rate of 85% :

// Assume block needs to be inside a Try/Catch block.
String path = Environment.getExternalStorageDirectory().toString();
OutputStream fOut = null;
Integer counter = 0;
File file = new File(path, "FitnessGirl"+counter+".jpg"); // the File to save , append increasing numeric counter to prevent files from getting overwritten.
fOut = new FileOutputStream(file);

Bitmap pictureBitmap = getImageBitmap(myurl); // obtaining the Bitmap
pictureBitmap.compress(Bitmap.CompressFormat.JPEG, 85, fOut); // saving the Bitmap to a file compressed as a JPEG with 85% compression rate
fOut.flush(); // Not really required
fOut.close(); // do not forget to close the stream

MediaStore.Images.Media.insertImage(getContentResolver(),file.getAbsolutePath(),file.getName(),file.getName());