Self-management means you're in charge of the money side of your plan. You choose your providers, pay them directly and the NDIS reimburses you through the myplace portal, usually within a couple of days.
It gives you the most flexibility of any option: you can use any provider you like (registered or not) and negotiate prices directly.
You don't have to self-manage everything, either. Plenty of people self-manage some supports and have a plan manager look after the rest.
If you like the idea of self-managing but aren't ready to dive in, that's exactly what we help with. Start plan-managed with us, learn how it all works and step up to self-management when it suits you. Email hello@providerchoice.com.au to chat about it.