If you are the type of person that likes to do everything yourself then you can quit reading now, this post is not for you. If, however, you are like me and just smile and nod when your friends start talking about the new engine mod they just installed in their car or watch “This Old House,” for the design ideas and go get some coffee when they start talking about actual installation…sit back and enjoy.

The following are six professionals that will drastically improve the quality of your life if you give them the chance. The problem is most people don’t take the time to build relationships with these people and end up just throwing darts at the yellow pages when crisis comes, or even worse, wasting endless amounts of time and money trying to do it all on their own.

Accountant/Financial Adviser - It should come as no surprise that a key aspect of skilled living is managing your money well. I place accountant and financial adviser together because whether the roles are fulfilled by one person or two they should always work together. An investment strategy that doesn’t take into account good tax planning is meaningless.

A couple of years ago I began using my dad’s long-time accountant to do my taxes. I could have instead taken the time, as so many do, to do my taxes myself, but in using an accountant I found two huge benefits: 1) peace of mind in not having to lay in bed at night worrying whether or not I had missed something 2) time freed up to do other things I enjoy a lot more like spending time with my wife and daughter, reading, studying investments, etc. If you are looking to hire a professional in this area and you’re confused by all the acronyms like CPA, CFP, etc. here’s a good article on CNNMoney that explains it well.

Tailor - I am a big fan of dressing up, but there’s nothing worse then wearing ill-fitting clothes and feeling more like a clown than James Bond. Most people don’t realize the benefits of having clothes tailored. For guys, most American made dress shirts seem to be cut for 300lb CEOs than they do an average joe. The Italians make their clothes for more physically fit guys, but unless you’re ready to shell out a few hundred dollars per shirt, these aren’t always a viable option.

For years I trounced around weddings and special events with the sides of my dress shirts flowing in the wind. It wasn’t until I found a tailor who informed me he could bring the sides in on all my dress shirts that I discovered the joy of wearing shirts that actually fit. Surprising to me, the price for this service was very reasonable. Not sure how to find a decent tailor? Go to a high-end department store like Nordstrom’s or Neiman Marcus and ask an associate who they recommend, or ask your local dry cleaner. Find a tailor that you trust knows your style and you’ll be clothed well for life.

Mr. Fix-It - More damage has been done to homes, cars and other possessions by people who are convinced that they can “do it themselves” than almost anything else. One of the best examples of this is “Flip That House,” on TLC. All you have to do is watch the first five minutes to know how the flip is going to turn out. If they decide to hire professionals to do the work they almost always finish the project on schedule and on time. If they decide that their 5-year subscription to “The Family Handyman” qualifies them to completely remodel a house you can sit back and watch tempers flare, marriages crumble and money vanish.

If you have the knowledge and skills and find hammering nails soothing, than by all means, have at it. But, for the rest of us developing a good relationship with a professional handyman is incredibly valuable. Hiring a professional will cost you money, but there is a great difference between first costs and life-cycle costs. While you may avoid some first costs by DIY you will make up for them in life-cycle costs.

Lawyer - All the jokes aside, at some point everyone needs a lawyer whether its for simple tasks like drafting a will or something more serious like a civil suit. Like most things in life it is far better to have already have a lawyer that you know and trust before the storm comes than trying to find one in the midst of serious crisis.

Lawyers can do much more than people realize depending on their areas of expertise and can be a great help, but these benefits are only as strong as the relationship you form with your lawyer beforehand. Here’s an article from Business Week on “How to Hire a Lawyer.”

Doctor - Staying healthy is something all of us want, but part of this equation is having a good doctor that you trust and feel comfortable with. Nothing is worse then sitting there naked on the butcher paper debating how much you should reveal to your doctor. Finding a doctor you can be completely open with will greatly increase the quality of your personal care.

Akshay Kapur, on his highly informative health care blog explained in a recent post, “…your primary care practitioner (PCP) is your gatekeeper to the rest of the medical world, so it is worth your while to develop a strong relationship with one.” So how do you find the right doc? Kapur recommends the relatively new website Vitals which provides backgrounds on doctors similar to a consumer report.

Real Estate Agent - As I mentioned in my last post on home buying, “Since buying a house is the single largest purchase most of us will ever make, knowing how to do it well is a great skill to have.” In order to navigate the real estate market well, having an informed and skilled real estate agent in your corner can pay huge dividends.

First, they know the market. Every market is different so it pays to have the expertise of someone who knows a local market well — the history, trends, and future changes. Second, real estate agents are constantly talking with each other so they are the first to know when a great property comes along.

All six of these pros can greatly help you navigate various areas of your life, but as I’ve tried to stress, their help is only as good as the relationship you have formed with them beforehand. Do not wait until you’re in the thick of it to search for professional help. Life is meant to be enjoyed, so build yours in such a way that you can focus on the things that matter most like relationships, travel and hobbies and leave the dirty work to the professionals.

What professionals have been of great benefit in your life? How have you developed relationships with these people and what have the benefits been?

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I was perusing the archives of one of my favorite bloggers, Ramit Sethi, and came across this great post highlighting the differences between one being cheap versus frugal. There is a definite difference between the two, but they are often thrown in the same pot. Here are some of the highlights from Ramit’s post contrasting the two:

Cheap people care about the cost of something.

Frugal people care about the value of something.

Cheap people try to get the lowest price on everything.

Frugal people try to get the lowest price on most things, but spend a lot on items they really care about.

Cheap people are inconsiderate. For example, when getting a meal with other people, if their food costs $7.95, they’ll put in $8.00, knowing very well that tax and tip mean it’s closer to $11.

Frugal people won’t order a Coke if they’re on a budget, so that when the bill comes, they don’t look cheap.

Yes, being cheap and/or frugal can be a cultural quality. I won’t spend much more time on this one.

Cheap people keep a running tally with their friends, family, and co-workers. Some frugal people do this, too, but certainly not all.

I think the difference between being cheap or frugal comes from one’s attitude and philosophy towards money and possessions. Someone who is cheap generally has a view that 1) they deserve the money they have 2) their money is for them only. Frugal people on the other hand often have the attitude that money is not an end in itself, but simply a means to achieve other goals. They believe they are stewards of money rather than owners. Frugal people are often generous while cheap people are not. Cheap people place accumulating money above relationships while frugal people use money wisely to enhance relationships.

One of the most interesting aspects of this issue (pointed out by many commenting on Ramit’s post) is that people who are cheap constantly live in fear. Fear of not getting their money’s worth, fear of getting ripped off, fear of not getting what they feel they deserve. In the end, a cheap person ends up becoming a slave to their money rather than its master.

It amazes me the amount of financial advice available today. Books, seminars, blogs, dvds, etc. with the sole purpose of showing you how to make money. I’m all for it to be honest, the more information available the better….although there are a lot of crooks and idiots out there as well. So, you have to be careful who’s advice you take.

I found a blog yesterday entitled I Will Teach You To Be Rich by Ramit Sethi, a young Silicon Valley entrepreneur. While I admit I haven’t had the time yet to read through all of his articles, I was in agreement with his general views on creating wealth. The principles below are from his blog with some extra info added in by yours truly. I post these because they are, in large part, the same principles that I have come up with as I’ve attempted to hack my way through the jungle of financial plans, solutions and gimmicks in my own life. Nothing cosmic…THERE ARE NO SECRETS…but sound advice to any college/twentysomething wanting to create a stable financial base:

– Create and Maintain a detailed budget. Wesabe is an excellent site I use that helps you do this…best part, completely free! Upload your accounts, label transactions, set spending limits and you’re on your way.

– Get your credit report. A recent amendment to the federal Fair Credit Reporting Act requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months. To get these reports go to www.annualcreditreport.com

– Make sure you’re not paying fees on your bank accounts or credit cards.

– Open a high-interest bank account. www.bankrate.com will give you a comparison of all the different banks and their interest rates.

– Establish a savings goal of 20 to 30 percent of your income, if possible.

– Open an investment account at a discount brokerage. Most of my friends that I talk to about this look at me with horror saying they just don’t know what to do…believe me, brokerage houses don’t get rich by making it hard for you to open an account with them. Call, ask questions, don’t make any quick decisions. If you already use USAA they do a good job, I’m also a fan of American Funds…if you go the mutual fund route.

– Fully fund 401(k)s and Roth IRAs. If you are over the age of 22 and do not have a Roth IRA set up, even if you don’t contribute much yet, you are flushing money down the toilet. It takes literally a few minutes to set up an account that will allow you to grow money throughout your life TAX-FREE.