I have an older version of Photoshop which does what I am asking for. I however

Question

I have an older version of Photoshop which does what I am asking for. I however dislike the waiting period for it to load up and I also don't think that I need such a powerful program most of the time for what I am doing. I also would like to have current / updated software. I usually find one feature (the layers usually) but not the other (editable text and as layers). So, to put it more clearly what I am looking for:

A free photo editor (though something cheap such as less than $50 can be mentioned in comments) that:

Allows one to create layers like Photoshop does

Allows every text entry to be created as a layer and editable after creation and after saving and closing the program

So, these layers can of course be moved around like in Photoshop and if possible

The ability to change canvas size. This way if I change my mind frequently on what I am working on, it's not a problem.

Explanation / Answer

Paint.net should meet your needs. It free and open source and ticks every one of your boxes. It's much lighter and easier to use than GIMP or Photoshop, without the reams of features. It's great for any simple layer-based photo editing or annotating

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