First I will assume that you want to do a good job - but you are not too fussy with the details so I will cut some corners here to make your life easier. If a designer reads this he/she could probably whinge about a couple of details because it's not "done properly" but let's face it: you don't want to get into the boring details so let's go to the essentials...
These days a lot of people have access to Photoshop for some reason. That's your case and that's why you have been asked to design this flyer / poster. If you don't have it you can use The Gimp although it lacks an important (but not essential) option - more on this later. If you don't have the choice, go for it - it's free and very good.
If you use Photoshop it does not matter which version you have, they will all be more than powerful enough for what you need to do.
OK first, at what size are you going to print your document? A3 for a poster? A5 for a flyer? If you are not at all familiar with this just Google "paper size" and have a look. Basically A4 is a "normal" sheet of paper i.e. 21 x 29.7 cm. When you go above you double the size every time (A3 = 2 x A4 etc...) and when you go below you halve it i.e. A5 = A4/2 etc...
Once you know that you must know from your printer whether they need a bleed or not. Basically this is some safe space on the border of your design so that your artwork/text does not get cut. As a rule of thumb if it is a poster then don't bother. If it is a small flyer like A5, A6, A7 you will probably have something like a 5mm bleed. Add it to your area like this:
For example you want an A6 flyer.
A6 = 148 x 105mm
You want to add 5mm on each side so 10mm total
Therefore your document size = 158 x 115mm
Easy. Then make sure you leave this area of 5mm free of text and important information in your design.
Now the resolution, calculated in pixels/inch. The rule of thumb here is 300 pixels/inch for printing matters, If it is a flyer, go for it and set it up to 300 pixels/inch.
If it is a poster though you might have an issue as the size of the file you will be working on might become huge. I would say for A3 you can go down to 150 pixels/inch and for A2 go with 75 pixels/inch. Because people will see you poster from far it should not be an issue.
Last but not least the colour management.
Basically you have a choice between RGB and CMYK.
RGB is the way to display colours on screens (Tv, computer screen etc...).
CMYK are the colours used for print.
When you design you poster/flyer in CMYK, Photoshop will "imitate" the way the colours are going to look like once printed.
If you use RGB colours you might be surprised as the colours can look quite different from what you expected (too dark, dull...).
This is why you should use CMYK on Photoshop and save your file as a Jpeg or PDF as these file format support this colour profile.
Here is where The Gimp has a problem - it does not support the CMYK colour profile as standard. It looks like there is a plugin for it but I never tried it.
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