When Instagram first introduced “Saved Posts” to their apps in December, they didn’t include any sort of way to organize those saved items. Who knows why, but today that changes. Saved Posts can be categorized in a way you should have been able to from day 1.
Instagram is calling them “Collections” and they work like you would expect. When you save a new post, you’ll be able to decide if you want it in a new collection or one that already exists. You can also create collections from existing posts.
All of this will happen within the week in v10.16 of the app. Once live, your saved page will have two columns, one for “All” saved posts and another called “Collections.” Cool.