You might want to check out Smart Keyboard. This is an AutoText feature in Smart Keyboard.
It's the keyboard I use everyday on my device. I have quite a few shortcuts setup. For instance, my Email address, cell number, home address, email signatures.
I can quickly type things I need using custom letters I create. This was one of the things I liked the most when I used BlackBerry before coming over to Android.
I didn't want to give up that feature. Smart Keyboard made the transition from BlackBerry to Android easier for me.