As someone who does a lot of really nerdy, experimental stuff with mostly cheap-ass materials and often barely-even-counts-as-instrument things tops, there's a whole bunch of stuff that can be done with stuff that costs not-too-much, or that you might have on-hand, especially if you're willing to follow a more punk-esque philosophy of,
"if it works, it works, just put all ya' energy into it and sell it with how ya' work it."
For the most part, I'd say it matters on what you want to do with your music.
For instance, if you have a DAW
(digital audio workstation/music editing software,) it can be really easy to make super-duper simple music such as minimal techno, sample-based hip-hop
(though that might cause legal issues if the sample-owners catch ya' sellin' stuff [unless ya' are experienced enough to hide it well muahahahahha,]) and so on, especially if ya' don't want something super melodic or music theory intensive, since stuff like that can often still work really well with really simple, short loops.
However, in general, if ya' want something that is a bit more traditionally melodic, it is probably a good idea to at least look into some super-baseline level music theory stuff on youtube like how chord progressions work and stuff. If ya' want to use a physical instrument, this goes similarly, but in addition to at least screwing around and practicing a tad, especially if you want to do something like doing vocals and strumming chords at the same time in a way that isn't ultra-sloppy
(though a hint of looseness/sloppiness can work in a stylistic manner if ya' sell it well, like in actual punk/post-punk, blues-rooted stuff, etc.)
If you don't have a physical instrument, and that's what you'd prefer, my personal way of getting stuff w'out breaking the bank
(might not be optimal for everyone) is getting stuff offa' Craigslist that don't cost nothin'
(maybe around $300 or less.) That way, you might stumble upon everything from a fine old gem to something that's cheap-but-works-aite', and if it crumbles, ya' didn't need to pay diddly squat for it.
Just make sure to take covid and otherwise precautions if ya' wanna try that route, obviously.
"...I could also sing, but that doesn't always work so well."
If anyone really is needing to have lyrics to accompany musical stuff, but don't find that they got a good singing voice, I advise trying trying to almost sing like you're
talking, but at least somewhat in the
groove of what you're putting vocals to - almost like a semi-melodic rap, - and not trying to force ya' voice into a higher or lower register than feels natural.
When trying to use vocals to go with more electronic stuff, mixing and blending the live vocals with the more rigid electronics is probably much more important than actually being able to do traditionally super-melodic vocals.
"...Better than Audacity for a beginner composer."
As someone who has used Audacity as my main DAW the whole time I've been doing music, if you're talking about electronic-based music styles, this as absolutely true, especially since there's no built-in quantization thing or non-brute-force way to assemble melodies and rhythms of your own to my knowledge.
However, if working with more tactile instruments, and not worrying about quantization and stuff, it works well enough for recording stuff real easily, maybe overdubbing some stuff, etc. It's definitely not designed as something to be used as almost an instrument init of itself like Fruityloops or Garage Band might be, though.
--
Again, as much as I keep saying that,
"ya' just gotta' put confidence into it/"sell" it well," that's more about being confident with what ya' got, but if you get legitimate advice from other folks, just make sure to not be ignant about it, and take lil' tips into consideration and so on, and it'll help ya' grow in most cases.
Anyways, I'ma stop rn before I keep on ramblin' on. 'Hope this helps, though this ain't barely scratching the surface of music stuff, obviously.