Inaddition to what others have said, you could use one of many utitlities out there for that. Especially if not in software that lets you do that (i.e. Word).
After a Google search for "Windows text shortcuts":
http://lifehacker.com/238306/lifehacker-code-texter-windows
http://www.phraseexpress.com/
http://www.softwareok.com/?seite=Microsoft/QuickTextPaste