Creating classic photo effect with frame

Start by creating a new file. Create a rectangular selection using rectangular marquee tool.

Press Q to enable quick mask. From "Filter" menu select brush strokes>>spatter. Apply settings as shown.
Press Q to disable quick mask. Create a new layer and fill it a light orange color.

Double click the layer to open layer style window. Apply settings as shown.

 

Insert any image of your choice.
Press Ctrl+U to open hue/saturation window. Apply settings as shown.

 

From "Filter" menu select noise>>add noise. Apply settings as shown.
Select frame layer. Press Ctrl+F to apply the filter again.
Create a rectangle using rectangular shape tool.
Enable "subtract from shape area" at the top bar. Create a "arrow2" shape using custom shape tool. Rotate and place as shown.
Double click the layer to open layer style window. Apply settings as shown.
Duplicate the layer and rotate to create other corners of the frame.