I use `z` as a less manual way to search common directories instead of changing $CDPATH. It's based on 'frecency'.
I use `autojump` (aliased as `j`), which sounds quite similar as it also records your most frequently visited directories. It's as simple as entering `j down` to enter /some/path/to/MyDownloadFolder.
For exploring massive file trees, a terminal file manager that allows you to preview the contents of subdirectories without entering them is huge time saver. I use `lf`.