Define Paragraph container size before you start typing in Photoshop and Photoshop Elements

In situations when you know in advance what size of paragraph container you need for your design use secret and hidden option to define sizes of paragraph container before even start typing text. Secret is in modifier key Alt, press and hold modifier then click once with Type tool selected anywhere on canvas or image.
Open Paragraph text Size dialog

Paragraph Text Size dialog will open with default measurement in points but you can type paragraph text or container size and in pixels, millimeters, inches which will be translated to default measurement unit for type defined in Preferences.
Enter Width and Height for paragraph text size
If you prefer to work with pixel size for type for example when working on web layout then visit Preferences > Units & Rulers and change in Units section default measurement unit from Type drop-down list.
Preferences dialog in Photoshop

Reference:
Photoshop / Default keyboard shortcuts
Photoshop Help / Presets, Preferences, and Plug-ins

Product used in this tutorial: Adobe Photoshop CS5 Extended

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