First of all, a big “thank you” to the author at snowleopardtips.net who wrote “Everything you need to know about customizing screen captures“! This very helpful article cut through the chase and made changing the screen shot folder easy.
OK, so here is the “How To”:
1) open your terminal and enter the following line. Note:The default location for screenshots is ~/Desktop.
defaults write com.apple.screencapture location
2) Reset the System UI Server so you can see the change.