Design my own logo or not

First off I'd like to say HI! I'm new to the forum and I'm probably posting this in the wrong place. If so, I'm sorry.

I found this forum after searching for "logo design". I'm in need of a logo, but I don't have $100-$200 to offer to have someone draw me one up. I already have a sketch of the logo and I can scan it and send it to someone if they would like to help me out. I can only pay you $50 at the most. Along with the sketch I already have the colors picked out and hopefully it will be pretty easy for someone to do. I'm open to suggestions for tweaking the design to make it stand out better as well.

If I don't have someone make the logo for me I noticed that you can purchase some logo making software here on this site for $29.95. (The Logo Creator) I have a few questions for those of you who might already be using it.

1) Do you like it?
2) Is it easy to use?
3) Do you need to purchase anything else or can you do everything you need to do with that software alone?

Thank you everyone for taking the time to read this and answer my questions. I really appreciate any help and suggestions that you might have.

The software is easy to use. If you already have images you would like to compile into a logo...it is a good deal. If you have a custom image you need to create, it will not help you there. I would be happy to work with you on your logo for $50. Please feel free to contact me here or email me at duane@gulfcoastfreelance.com