At any point you wish to use these colors, source colors.sh to get all variables, and then use
echo -e "This word is: ${RED}Red$DEFAULT while all these others are not
Also works for the PS1 Environment Variable
PS1="$BOLD${RED}test${DEFAULT}:${BLUE}\w${NORMAL}\$ "
Styles can all be combined at the same time, while colors/background colors will overwrite each other