OP, i use CS3 for designing posters and flyers for shows, it's not the best to use as many have mentioned but like yourself this is all i have and can't afford anything else right now.
When setting up your document, select CMYK color. Most printers are CMYK, if you don't build it in CMYK you could have problems.
not sure how far along you are or what is giving you trouble, but in CS3 their is an option along the top for your workspace which will change the interface slightly. Select the one 'called working with type.'
You select the T tool for drawing text boxes, each will be on it's own layer. On the right (usually for me) is the layers palette, character palette and I think a paragraph one as well. You can drag each one out to separate them by clicking on the tab.
If you want to move any text boxes or edit the type in them in any way you have to select it from the layers palette first. A text box layer will have a T icon. If you right click on any layer and select 'Layer properties' you can name it to avoid confusion.
If you want to edit the type, after clicking on the layer in the palette, click on the text box.
If you want to resize the text box you have to make sure to click the T icon first or it will stretch the type out. You can stretch type if you want but it doesn't usually look good esp. if done too often. It's better to just change the font size at the top of the screen. Use the 'smooth' option to avoid any type looking jagged when printed.
If you want to move the text box around, you have to select the type layer and the directional tool, or the arrows on your keyboard if you want to keep it in a straight line.
Use the character palette to change the spacing between letters and between lines if you need to. Be aware that if you change a font size from 10 to 14 for example, you may need to change the spacing between the lines to match the new font size. Use the paragraph palette to set things like center, justify, etc.
Place photos, etc. by either selecting File--Place or you can open the image and with both files open, use the directional tool to select the image if it is a single layer and drag it into the other image, or select the layer you want in one file and drag it into the other image. This way can be handier than file place because you can crop or resize the image before dragging it in, just make sure that you don't save the changes to the file you drag in when you close it.
If you want to resize an image you placed/dragged in and keep it in the correct proportions, hold the shift key before dragging from one of the corners.
Oh, you mite need to click on 'show transform controls' or 'free transform' with the multi-directional tool to get the handles to come up to resize it.
If you want to color in the background or say, draw a colored rectangle, double click on the foreground color at the bottom of the work space, you can then pick a color to draw it with. Select New Layer, then the rectangle tool and then draw it.
You can also delete or duplicate layers. A duplicate layer will appear directly on top of the one it's copied from so you might need to move it with the arrow keys to see it.
When you are finished with your design, save it as a psd so you have a version where you can edit all the layers. But if you are sending it to print or are emailing it to someone, click on Layer--Flatten image. This merges all the layers to make the file smaller as PSD (photoshop) files are large. Then you can save it as a jpeg, tiff or pdf which are most common for printing. Once the image is flattened, you won't be able to edit the type layers.
Google an excellent article called 'the 3 deadly sins of print design'. It's hard to tell someone how to use a program in a post but hopefully that will get you on the right track, it's very possible I missed something or didn't explain it properly.
Control z (undo), or it's buddy Step Backward will be your new best friends for a while.
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