There're already tools which choose to do "automated" tracking. HoneyMoney caters to people who want to do it manually (more control, security, precision).
The thing is that Excel is not designed to help you with manual tracking. HoneyMoney is. For example, you can plan all recurring transactions and then you just confirm them as they happen. Or you can combine multiple transactions into one. Those things simplify the process a lot.
"Accounting" can be enjoyable. Some people do enjoy the level of control they get from doing their personal finances.
For example, you spend $120 at a restaurant last night. Today you enter that expense into HoneyMoney, and have a chance to see how this expense changed your situation, and think for a moment a second time about it, was it worth it or better not go there again. Computer won't do it for you.
"Open banking" won't do the work for you. The work of paying attention to your finances and keeping your spending under control. HoneyMoney tries to help with that.
Why? If YNAB works perfectly for you, then no need to change anything. HoneyMoney is a different beast, you can check comparison here: https://honeymoney.io/en/compare
That's why HoneyMoney tries to simplify the process and make it enjoyable.
Manually tracking expenses seems harder than it actually is. For example, I just collect all the receipts for 3-4 days, and then spend 5 minutes to enter them in batch.
All the recurring transactions are planned once, and then you just confirm them with the real amount. 2 clicks: select — confirm.
Basically, we're talking about 15–20 minutes per week for increasing your awareness about money and to keep your financial life under control.
This is work, nobody will do it for you. You just need to decide if it's worth it to you personally or not.
Manually tracking expenses seems harder than it actually is. For example, I just collect all the receipts for 3-4 days, and then spend 5 minutes to enter them in batch.
All the recurring transactions are planned once, and then you just confirm them with the real amount.
Basically, we're talking about 15–20 minutes per week for increasing your awareness about money and to keep your financial life under control.
This is work, nobody will do it for you. You just need to decide if it's worth it to you personally or not.
Entering transactions manually is THE POINT of HoneyMoney. You need to pay attention to your money to change your habits. Manual tracking forces you to keep your money under your regular supervision.
There're a lot of tools which will automatically import your transactions. HoneyMoney chooses the different way, trying to make tracking and planning a habit, promoting the idea that nobody can do this work for you.
It just tries to simplify the process and make it enjoyable.
@mingabunga in the comment below explained it better than I can:
"It's just a catchy headline, it doesn't really make sense but is comical/nonsense so it makes you stop and pay attention to it. I think it's brilliant."