I thought I would go through the steps to show you how to give your photos a "vintage" look that seems to be "all the rage". Personally, this seems like another trend to me but that's okay, whatever "floats your boat". Although, in case you haven't noticed I do enjoy cheesy vintage sayings about being cool. So time to "get crackin", I think that is from the egg marketing board but, whatever.
Please note this tutorial is for Photoshop CS6.
Step 1: Open the Image
Step 2: Convert to LAB Color Space
From the Menu Bar: Select Image -> Mode -> Lab Colorspace
Step 3: Apply Image
From the Menu Bar Select Image -> Apply Image
You will want to select the Lightness channel to give the image the washed out look that is popular right now. By changing the opacity it will increase or decrease the effect on the photograph.
Once you are finished, remember to convert back to the RGB colorspace in order to save the image as a jpg or for printing.
If you want to go further into light leaks etc. I recommend just using Instagram. If you want that low quality look it makes a lot more sense to take the image at a low quality in the first place.