About Cake: Jo

By Sophie Docx

Jo has been using Cake for a while now. Charmed by the philosophy of a 100% Belgian initiative, he couldn’t wait to install the app. Since then, Cake has become his default app for the daily quick look at income and spending. You can read his whole story here.

  • Name: Jo 
  • Age: 39
  • Hometown: Lebbeke, Belgium 
  • Family members: Jo, Daphné and Fien (5) 
  • Using Cake since: the first closed beta test
  • Profession: Sustainability monitoring at Barry Callebaut (cocoa & chocolate)
  • Hobbies: Energy cooperative Denderstroom

When did you start using Cake?

I’ve been using Cake since the very beginning. I was one of the first testers of the app. The functionalities of the app were still very limited at that time, but I felt the philosophy was the right one.

Why did you start using Cake?

Out of interest in the new start-up of (the) Davy Kestens.😜 I knew that as a young entrepreneur Davy had moved to Silicon Valley to successfully start his first company over there. When I heard that he was working on a new start-up, my curiosity was immediately aroused. 

But also because financial insights always come in handy, and because Cake’s future ambitions look very promising!

Which is your favourite Cake feature?

The fact I can quickly and clearly view all my bank transactions without having to log in. That may sound strange, but apparently I’m not the only one. I recently read that many Cake users open the app several times a day simply to check their balance, income or spending. 

I used to check my account balance often, but that was more burdensome and limited to one bank anyway. With Cake you immediately get a clear overview of all your bank accounts together, with the right names, logos of the stores and even the address. 

I also find the overviews per spending category very interesting. I get insight into what I spent a lot of money on, and how much was remaining at the end of the month.

What is the most surprising insight you have gained thanks to Cake?

How occasional costs are more frequent than I assumed. For example, electronics. Of course you don’t buy a new phone every month, but last month it was a vacuum cleaner and the month before that I bought a present for my godchild. The app makes that easy to see, and you can click through from the category to the different stores and then you can see what the total of the category is made up of.

Which cost category does your family spend the most money on?

Nowadays mainly to regular grocery shopping and to our housing loan. Especially the last six months we have lived really soberly.

My “craziest” purchase in recent months was a camera-drone. It is the first time in a long time that I bought a “toy” for myself. But it’s really fun to fly with!

How much have you already earned with the app?

I estimate about €15. Each month, Cake distributes a share of its revenue to all active users of the app. This month, for example, each user received €1.76. Those aren’t very large amounts, but they do come into your account in cash.

To me this also proves the values and the business model of the company are right. Half of the revenue Cake generates from the anonymized and aggregated data reports they sell to companies, they return to the users. They also communicate about this very transparently, and that’s very important to me. 

Why should other people use Cake as well?

Because it gives them an easy insight into their finances. Because they can earn some extra cash with it. Because Cake still has a lot of new things planned. And because it is nice to see a 100% Belgian project booming like this! 🚀

What upcoming features of the app are you looking forward to?

I am waiting for the integration of Paypal and credit card data to get an even better overview of my spending. 

The display of a “budget” where your current spending is compared to what was spent or received in other months also seems useful to me. 

In addition, I would love it if Cake also could get a social dimension.

For example: I would like to give my monthly Cake Reward to people with an income smaller than X and who have children. Or maybe there are companies that want to give bigger cashback Rewards based on the family income?

Any additional cherry on the cake?

I have 2 more tips!👇

Anyone who can spare some money would be better off investing in an energy cooperative (you can find a list here). You will get a nice return and renewable energy will be produced in your region. And there is no bank or broker who takes commission on it.

For people who want to go a little further with Cake, this is a hack. Add account numbers to your “own accounts” (without linking them) to consider them as savings. We regularly pay tranches for an apartment that is still under construction, and by identifying the account number of the builder as “own account”, those transactions are “savings”, otherwise they would interfere with our spending figures too much.

Are you also an enthusiastic Cake user and would you like to share your story here?
Then send an email to sophie@cake.app

Are you ready to download the Cake app? It’s available for Google Play and on the App Store.

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5 things about Cake Rewards you probably don’t know yet