Americans Say One Money-Savvy Friend Can Save Them Nearly $500 a Year, but a New Survey Reveals They’re Turning to That Person for Far More Than Investment Tips

A report published by the New York Post on October 12 highlighted a survey suggesting that one financially knowledgeable friend may be worth hundreds of dollars each year. People in the poll estimated that following a friend’s financial advice saved them an average of $482.10. That figure comes remarkably close to $500, giving the findings an attention-grabbing headline.

The number, however, represents what participants believed they had saved rather than an independently verified financial result. The survey asked people to estimate the money they thought they had saved because of advice from a friend. It did not verify their bank statements, compare their spending before and after receiving advice, or track their finances for an entire year.

The Study Surveyed 2,000 Taxpaying Americans

According to Talker Research’s published study, the survey included 2,000 American taxpayers who had internet access. TaxSlayer Pro commissioned the research, and Talker Research conducted it online between July 16 and July 23, 2026. Participants qualified by reporting that they filed U.S. taxes, either independently or with assistance.

The published survey questionnaire provides additional context about what researchers asked. Questions covered the usefulness of friends’ practical skills, the frequency of financial consultations, estimated savings, and interest in professional tax preparation. These findings offer a snapshot of the participating taxpayers’ experiences and opinions, rather than a definitive measurement of how Americans manage their money.

More Than a Third Want a Financial Guru in Their Friend Group

About 35% of respondents said every friend group needs a financial expert who can offer practical advice. This informal role could involve helping someone understand a credit card, compare savings accounts, or make sense of an unfamiliar financial decision. The results suggest that many people see financial knowledge as a useful contribution to their social circles.

A financially knowledgeable friend does not necessarily need to be an investment professional or someone with an impressive financial background. Sometimes, the person others turn to is simply the one who understands everyday money decisions and can explain them clearly. The survey examined how respondents viewed this kind of informal expertise, rather than measuring their friends’ actual financial qualifications.

Some Americans Already Consult Their Money-Savvy Friends Regularly

Among respondents who said they had a friend they considered a financial expert, 31% reported consulting that person all the time. This suggests that money-related conversations can become a regular part of some friendships. Instead of looking for answers only when a major financial decision arises, these respondents said they frequently relied on someone they already knew.

The findings also point to the value people place on familiar sources of guidance. A conversation with a trusted friend may feel more approachable than trying to understand unfamiliar financial terminology alone. However, the survey did not establish that informal advice is necessarily more accurate or useful than information from qualified professionals.

Financial Advice Covers Taxes, Credit, Savings, and Investing

The reported topics extend well beyond choosing investments. In Talker Research’s account, improving credit scores ranked among the most frequently reported forms of financial advice at 35%, followed by help with filing taxes at 31% and investing at 30%. These figures illustrate the range of questions people say they discuss with financially knowledgeable friends.

There is a small but notable difference between published summaries of the findings. TaxSlayer Pro’s own survey write-up lists tax filing at 31%, investing at 30%, savings accounts and credit cards at 29% each, investment choices at 28%, and buying or selling items at 27%, but does not include the 35% credit-score figure. The summaries therefore do not present the full ranking identically, although both describe financial advice as covering several everyday decisions.

Simple Money Lessons Can Make a Lasting Impression

The survey’s published findings also included memorable lessons people said they had learned from financially knowledgeable friends. Examples included checking receipts carefully and avoiding purchases that someone could not afford to buy twice. Both ideas encourage people to pause before spending and pay attention to the details that can affect their budgets.

These examples help illustrate the practical nature of the guidance being discussed. Checking a receipt may help someone spot an unexpected charge, while reconsidering a purchase can prevent unnecessary spending. The poll did not test the effectiveness of these particular tips, but they demonstrate the kind of straightforward advice respondents associated with saving money.

Gen Z Is a Notable Source of Financial Guidance Among Friends

Gen Z stood out in the survey’s findings about who provides financial help within social circles. Talker Research reported that this generation was particularly prominent as the person friends turn to for financial guidance, citing a figure of 59%. The results place younger adults in an interesting position as both people seeking information and potential sources of practical knowledge.

That finding should not be interpreted as proof that younger people are inherently better at managing money. The poll asked about the roles people occupy within their friendships rather than testing participants’ financial literacy. Its results describe respondents’ reported experiences, not an objective ranking of financial expertise by age group.

Some Financial Helpers Wish Their Friends Would Ask More Questions

The survey found that 35% of people who give financial advice wished their friends would consult them even more often. That result suggests that at least some respondents welcome the opportunity to share what they know. For these individuals, answering questions about money may be a valued part of their relationships rather than an unwanted responsibility.

Still, being the person everyone approaches can bring expectations. Friends may ask for help with decisions that are complicated, time-sensitive, or outside the advice-giver’s experience. The survey did not explore whether respondents experienced pressure or disagreements, so it cannot establish how these informal advisory roles affect friendships overall.

An Ideal Friend Group Needs More Than a Financial Expert

The study also asked respondents which other skills would be useful to have represented within a group of friends. A mechanic topped the list at 41%, followed by a doctor at 32% and a lawyer at 29%. The results suggest that people appreciate having access to practical knowledge across several areas of life, not just personal finance.

Those choices reflect different needs that can arise in ordinary circumstances. A mechanic may help someone understand a car problem, while a doctor or lawyer may help a friend identify the questions to ask a qualified professional. Having someone knowledgeable to consult can be useful, although it does not automatically replace specialized services or professional judgment.

Americans Value Friends Who Bring Different Skills to the Table

Beyond identifying particular professions, 84% of respondents agreed that having friends with a variety of skills was useful. The research also found that one in five relied on friends’ skills for help with specific tasks all the time. Gen Z respondents reported the highest regular reliance on such help, at 34%.

These findings broaden the picture of what people value in their social circles. Practical assistance might involve money management, fixing something around the house, or getting useful information before making a decision. The survey did not measure the quality of that assistance, but it showed that respondents often viewed their friends’ knowledge as a valuable resource.

Financially Savvy Friends May Consider Turning Their Knowledge Into a Career

The findings also explored whether people who help their friends with money might consider putting those skills to professional use. Among self-described financial gurus, 42% said they would consider making tax preparation their profession. The survey also reported that half of respondents who felt confident about filing taxes had offered to help friends or family prepare their returns.

This interest creates a connection between informal financial guidance and the possibility of professional tax work. Someone who enjoys explaining tax forms to relatives, for example, might become interested in learning how to serve a broader range of clients. However, expressing interest in a potential career is not the same as receiving the necessary training or actually entering the profession.

The College-Degree Question Appears Important to Potential Tax Preparers

The research examined whether people would feel encouraged to pursue professional tax preparation if they knew a college degree was not required. The published survey summary reported that 96% would feel more encouraged under that condition. It also said that 30% believed learning to prepare taxes professionally would be somewhat easy.

More than half of respondents agreed that professional tax preparation could make a good second career. These findings suggest that participants saw the field as a possible route to additional work or a career change. They reflect respondents’ perceptions of accessibility, however, and do not establish how difficult professional training would be for an individual applicant.

Flexible Hours and New Skills Are Part of the Appeal

Among the motivations reported for considering tax preparation professionally, flexible working hours featured prominently. The survey summary said 87% were attracted by the prospect of greater flexibility, and the same percentage identified a career change or the chance to learn a new skill as appealing. These findings suggest that participants were considering the lifestyle and development opportunities associated with the work, not simply the subject of taxes.

For someone exploring another source of income, flexible scheduling may sound appealing compared with a conventional work arrangement. Learning a new skill could also provide a reason to investigate a field beyond one’s current experience. Still, the poll measured stated interest rather than actual employment choices, expected earnings, or the practical demands of working as a tax preparer.

Gen Z Also Expressed Interest in Professional Tax Preparation

Gen Z appeared prominently in the career-related findings as well. According to TaxSlayer Pro’s published summary, 59% of Gen Z respondents said they would consider preparing taxes professionally. The same summary reported that 40% of Gen Z respondents strongly agreed that tax preparation could make a good second career, more than any other age group.

These responses suggest that tax preparation may appeal to some younger adults considering their employment options. The survey does not show how many will pursue training, start preparing returns, or remain in the field. Instead, it captures an expression of interest that could lead to further exploration but does not guarantee a particular career outcome.

Professional Tax Preparation Still Has Formal Requirements

Being the financially knowledgeable person in a friendship group is different from preparing tax returns for paying clients. The Internal Revenue Service’s guidance on tax preparer credentials explains that anyone who prepares federal tax returns for compensation must have an IRS-issued Preparer Tax Identification Number, or PTIN. The IRS also distinguishes between tax professionals based on their education, credentials, training, and authority to represent taxpayers before the agency.

These distinctions matter because informal money knowledge does not automatically qualify someone to handle every tax situation. People considering professional tax preparation need to understand the responsibilities involved and the qualifications relevant to the work they plan to do. The survey’s finding that respondents are interested in the career should therefore be understood as an indication of potential interest, not evidence that participants are already prepared to offer professional services.

The Findings Offer a Snapshot, Not a Guarantee of Savings

The survey findings have appeared in multiple outlets, but some of that coverage republishes the same material rather than independently checking the savings estimate. For example, a KHQ report credited to Talker News carries the same central figures. The research was also commissioned by TaxSlayer Pro, a company whose business includes tax preparation software, which is relevant context when considering the findings about tax preparation as a potential career.

Even with those limitations, the results offer an interesting look at the role practical knowledge plays in everyday friendships. Respondents reported seeking help with a range of financial decisions and estimated that advice from financially knowledgeable friends had saved them an average of $482.10. The survey does not prove that every money-savvy friend saves others hundreds of dollars, but it shows why people value having someone in their circle who can help make complicated financial questions easier to navigate.