As far as cleaning goes, getting circumcised would only save you the five seconds that you spend to pull the foreskin back and rub the head. =P
Also, are you sure that bump isn't normal? You mention under the head, and that's usually where the frenulum is located. You also have a frenulum under your tongue and lips.
Make sure you consider the risks, too, and negative side effects. Nothing is all benefits. In addition, many of the studies that claim that it reduces your chances of getting something are being proved false.
Anyways, insurance is usually over $1,000 or around there (it's that much because they put you to sleep, so unlike newborns you won't yell your guts out). Recovery is about two weeks and is most painful during erections and urination (but especially erections for obvious reasons).
Anyways, here are the risks and links to consider:
At an older age, to avoid the pain that newborns (although a decreasing number of, since fewer are getting it done) go through, you're put to sleep.
http://www.cirp.org/library/procedure/plastibell/
However, recovery is another thing. That takes about two weeks to heal (and can take longer, depending on your age). During that time there shouldn't be an masturbation or sex, and pain will be common with erections (and possibly urination).
Other than that, also read up on the risks of circumcision. It's something that cannot be undone if you don't end up liking it.
Circumcision = loss of sensitivity according to new study
http://www.foxnews.com/story/0,2933,285532,00.html
http://www.circumstitions.com/Sexuality.html#sorrells
Higher erectile dysfunction rates after circumcision:
http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?cmd=Retrieve&db=PubMed&list_uids=14979200&dopt=Abstract%7C
When women didn't know what penis they were dealing with (circumcised or uncircumcised) 9 out of 10 preferred uncircumcised (study).
http://www.healthcentral.com/drdean/408/60750.html
Foreskin anatomy and function (keeps the glans soft and protects it, etc).
http://www.cirp.org/pages/anat/
Circumcision is extremely painful.
http://www.cirp.org/library/procedure/plastibell/
The USA is the last advanced nation doing it, but rates have fallen down from over 90% in the 1960s to as low as 21% here in California currently. From CNN:
http://www.cnn.com/2007/HEALTH/06/18/circumcision.decline.ap/index.html
http://www.cirp.org/library/statistics/USA/staterates2004/
Circumcision was actually promoted in the USA at first to stop masturbation (in hopes of it being tight enough to require lubes and not have skin to slide since the foreskin is already moist)
http://english.pravda.ru/science/health/27-03-2006/77873-circumcision-0
USA = highest HIV rates in advanced nations (and highest circumcision rates). CIA statistics:
https://www.cia.gov/cia/publications/factbook/rankorder/2155rank.html
And one study already trashed the claims of the study that said that circumcision reduces HIV.
http://www.plosone.org/article/fetchArticle.action?articleURI=info:doi/10.1371/journal.pone.0000543
Worldwide circumcision rates:
http://www.circumstitions.com/Maps.html
And discussion of common circumcision benefit myths and discussion of all the risks that can develop over time and negative side effects (buried penis, meatal stenosis, etc):
http://forums.govteen.com/showpost.php?p=3069995&postcount=2