How To: Create a neon text effect in Photoshop

Open a document and change the background to black. Make sure the foreground color is white, now simple use the text tool and write whatever you need to.

Create a copy of the layer and switch to the copied layer. (The one at the top of the layers box) Now go to Edit / Stroke and change the hex to #0299ff.

Go to the blending options and apply these settings for outer glow, the hex is #0165c9.

Place the original text layer above your copy's layer and set it's blending mode to Overlay and your finished!