use distortion filters to slightly distort the edges. I use EyeCandy ( Linkhttp://www.alienskin.com ) Jiggle filter, it produces more hand-made looking results.

Words look wiser on old paper - Step 4

add some noise (filters > noise > add noise).

Words look wiser on old paper - Step 5

time for another filter. Go to filters > sketch > water paper and adjust its settings carefully so that original brightness of our paper is preserved. After filter is applied, press Ctrl-Shift-F (fade) and set filter opacity
to around 50%.

Words look wiser on old paper - Step 6

The paper will look much better with some layer effects (double-click layer or go to layer menu > layer style > blending options). Shown here is the following style:
* global angle = 90 degrees
* outer glow = overlay 75% black, size 5px
* inner glow = overlay 33% black, size 18px
* gradient = linear burn 20%, black-to-white, reflected, angle 90

Words look wiser on old paper - Step 7

...and a small final touch to the text layer itself. Applied layer effects are:
* general blend mode = overlay
* outer glow: overlay 50% black, size 8px
* color overlay: black, linear burn 33%

Author: Vlad Gerasimov