Excel 2008 : SUM of rows that include a specific word

Let me try to make this make sense.
I'm attempting to make a little expense tracker to keep track of things I buy and try to figure out where all my money is going. What I have set up is headers like this:
date/item/cost/information
What I want is the cost of all items named 'Savings' to be added in a little totals table I have going on.

For example, there's .55 in my savings right now. So if I input that like this:
11/23/2010 | Savings | 0.55 | in my savings account

I want it to show up on the bit beside it like this:

Savings: 0.55

Make any sense at all?

Ah, you're awesome! That worked out great (: Thank you so much.