If you are lazy as I am, then you want to make as fewer moves as possible. Have you tried to change the font size in Photoshop? What do you do? Select text, move mouse, click on dropdown list, select or type size - right? Wrong There is much simplier solution: Select and press Ctrl-Shift-">" to increase size or Ctrl-Shift-"<" to decrease size of the font.
Extra: The interestring thing is, this shortcut works in MS Word!