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When working on an image, and adjusting curves, saturation, vibrance etc you should always use smart objects or clipping masks. This way your image remains original, and you can undo or fine tune your adjustments later.

Smart Objects

To create a smart object, right click on the images layer and select Convert to Smart Object. You will notice a small icon in the bottom right corner of your layer preview.

[attachment=46384:converttosmart.jpg]

With your layer selected, go to Image -> Adjustments and select your layer adjustment type, Or Filter and select your filter adjustment. Alternatively here is a few shortcuts:

Levels CTRL/CMD L
Curves CTRL/CMD M
Hue/Saturation CTRL/CMD U
Colour Balance CTRL/CMD B
Black & White ALT + SHIFT + CTRL/CMD B
Invert CTRL/CMD I
Transform CTRL/CMD T
Camera Raw SHIFT + CTRL + A

Each filter will be stacked under your layer. Note that the order of the filters will make a difference to the effect of your image. You can now adjust all of your layer adjustments and/or filters by double clicking on them, or rearrange their order by dragging them up and down. You can also double click on the scale icon, and adjust the blending mode and/or the opacity of each smart filter

[attachment=46385:smartadjust.jpg]

Clipping Masks

With clipping masks, you can stack adjustments on top of your layer. To add layer effects, use the drop down menu in your layer window.

[attachment=46386:dropdownmenu.jpg]

Now either right click on the adjustment layer and select Create Clipping Mask, or while holding ALT, hover your mouse between your adjustment layer and original layer until you see this symbol [attachment=46387:clippingsymbol.jpg] and then click to create the clipping mask. Using a clipping mask means that all 'clipped' layers will only affect the layer that they are clipped to, and not any underlying layers.

[attachment=46388:clippedlayers.jpg]

Each adjustment will be stacked above your original layer. Again, the order of these will make a difference to the result of your image.

Great tip Baz, Smart Objects were single greatest update ever made to Photoshop, if you are not using them, then you're working too hard and don't even know it.

Some may not be aware of this but since we are on the subject.

PSD's can be treated as smart objects too, I often build key art in it's own PSD then insert it in the final template as a linked file, this creates a Smart Object of it, then you can double click it to open and edit the PSD and on exit will update the working smart-object.

This also does away with the annoying wait time that can happen, when nested smart objects are updated often, depending on what you are doing it can get very annoying.

The only time, linked files check for updates is; on load, after inline edit or if you manually tell PS to do it.

The main reason for this is to keep the final template file small, so it loads and edits fast, verses one huge file with everything in it...

They you go, my Pro Tip of the day, your welcome

Thank you Gentlemen for those interesting facts.
Always useful and clear

Thank you for the extra tip CT And you are welcome ripley

Excellent tips.

Great tips guys and thanks for sharing. I'm using smart objects from time to time, but most likely not often enough

Great tips!