Bordered Text in Photoshop

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First, open a document in photoshop.
Then, select the type tool. Type some text.
Select the magic wand tool, and click on an area of the text layer that is not the text itself.
With this area still select, zoom in and select all the other unselected areas that are not the text (if there are any) by holding down shift when you click.
Once everything is selected but the text, do control + shift + i or apple + shift + i to invert the selection. Now only the text is selected.
Create another layer, with the area still selected, and drag it beneath the text layer.
Under the select menu, go Modify > Expand.
A menu will pop up. It will say, "Expand by -blank- pixels". In the "blank" put the thickness you want the border to be in pixels. I'm using 1 pixel.
Now select the paint bucket tool and change your foreground color to the color you want your border to be. 
Fill the selected area with the paint bucket tool.
Deselect the selected area, adjust any colors that you want, and you're done! Feel free to experiment!