In photoshop/illustrator/gimp/inkscape simply put each moveable part of the character on it's own layer. Lower Arm, Upper Arm, Head, Torso, Upper Leg, Lower Leg, etc... then save each piece as a separate .png, and import them into spriter. Put the pieces together and then animate them. Much better than frame by frame. You can get the free version of spriter, though the pro version is only like $25.
So a lot of time by not having to draw each pose of your character. Also saves a LOT on file size in your game as you don't have a full copy of the whole character for each frame of animation. Just one copy of each individual piece, and the spriter .scml file handles putting them together and animating them. So instead of having for example a 200KB image for each frame (multiply the 200KB by how many frames you have) you just have the initial 200KB made up of the parts, and spriter handles moving those pieces and animating them for you with no additional copies needed. So if you have 100 frames of animation total, you just shrunk the animation graphics file size down by 100 times. From 20000KB (roughly 20MB) to 200KB or .2 MB. It saves time and space, pretty much a win/win.
Check the Brashmonkey site for videos of it in action: Spriter