If you have hole in your drywall that is not too large, it is really easy to fix for yourself. To start you will need to get some fiberglass mesh tape, which is specifically made for wall board joints, and cut off a section of it, probably about three inches longer than the span of your hole. It is even better if you get the kind of fiberglass tape that self-adheres because you won't have to put a coat of joint compound down first.

You will want to square it up and make it look as uniform as you can. The next thing you want to do is get some joint compound or "mud". Put a little bit on your putty knife and just skim a smooth coat over the tape. It will bubble up and look funny when you put on the first coat but you want to let it dry. Once it is dry, you can sand it down a little bit. You will then come back and add at least one more coat going a little further out sort of feathering out the edges which will hide the small bump being made by the repair. And then once again, sand it, prime it, and then paint it.