In this Adobe Photoshop tutorial you will learn how to make this yellow red grunge text effect.

1.
Start with a black background layer, then make a text layer, type in the text you want to add this effect to, as I did below.

2.
In the layers panel right click the text layer and choose rasterize layer.

3.
Go to filter -> filter gallery and find the filter called neon glow and set it as the image below and confirm.

4.
Now again go to filter -> filter gallery, this time find the filter called splatter and set it as in the image below.

5.
We now want to change the color of our text, so go to image -> adjustments -> hue and saturations and drag the handles as in the image below, (the text color should change to yellow).

6.
Go to image -> adjustments -> color balance and then for both the midtones, shadows and highlight drag the top handle all the way to red and the bottom handle to yellow.
Now your image should look something like this.

7.
In the layers panel make a copy of the text layer, name it bg or something to remember, place the bg layer under the other text layer.
Go to filter -> blur -> motion blur and set it as in the image below.

8.
Double click the top text layer to get to the layers style panel, give the text a black stroke at 2 px. and set an inner glow as shown in the image below.