Why are you using Photoshop? Photoshop is not intended to do what you're doing.
Photoshop is a bit-mapped graphics editor, not a page layout program. For what you're using it for, it will create huge files that won't print out that great. Even the cheapest printers print better than 300dpi, so you're wasting tons of hard drive space to get rather crappy results. Also, it is much slower and more cumbersome to work in Photoshop than any
real page layout application.
Use Apple Pages, Adobe InDesign, QuarkXPress, or
Scribus (which is free) instead.