Application that creates shortcuts to folders

I'm looking for an app (or a built-in Windows XP shortcut) that allows me to quickly save to or open favorite folders within different applications. I've seen several apps that let you quickly open favorite folders (e.g. Filing Cabinet) but I'm not sure whether these also give you shortcuts to SAVE to a particular folder.

If you know of anything, please post it. I'm spending a lot of time navigating with my mouse!

Thanks!