One of my friends is a graphic artist, and I'm paying her to design a logo for me. I know how important a quality logo is for first business impressions, and I do not have graphic skills to satisfy my expectations.
The logo I currently have as my profile pic and up in a few places, such as my Twitter account, is a basic Celtic knot that is not my final logo.
For me, the $100 I spend in having a professional work with me to design my logo is an easy expense to justify in the long run. I will be able to start my business with a professional logo that I can use to design my business cards, letterhead, invoicing, work my website around, etc.