1. Open a new Finder window (Command+N).
2. Create a new folder (Command+Shift+N), where you want screenshots to be stored. Keep this window open, and, make sure it’s in Grid mode (Command+1).
3. Open Spotlight (Command+Space).
4. Type “terminal” and Enter.
5. type without quotes: “defaults write com.apple.screencapture location ” (make sure to enter the space at the end after ‘location’).
6. Drag the folder you made into the Terminal window. The system directory path to the folder will appear.
E.g.: defaults write com.apple.screencapture location /Users/manikoth/Documents/SCREENSHOTS
7. Hit Enter.
Warning: Don’t ever delete the folder you have created for screenshots storage, it may cause troubles.