Friends who are financially savvy can save you $500 a year, new survey says

Having a financially savvy friend saves you $500 a year, new research reveals.

A poll of 2,000 Americans found the average person estimates saving about $482.10 from following a friend’s advice, and one in seven have even saved upwards of $800.

That might be why a third of Americans (35%) believe every friend group needs a financial guru.

Commissioned by TaxSlayer Pro and conducted by Talker Research, the study found that nearly a third of those who have a “financial expert” friend consult them all the time (31%).

And for one in six, the role is reversed: they believe they are the “financial savvy” friend in their social circle.

For a third of these respondents, this credibility comes from having friends that ask for their financial advice often; of those surveyed, Gen Z is most commonly the financial fallback (59%) for their friends.

And they like it this way: 35% wish their friends would consult them for financial advice even more often.

Those who have provided financial advice to their friends have advised on how to improve credit scores (35%), how to file taxes (31%) and how to invest (30%).

In fact, 42% feel so confident about their financial advice, they’d consider “going pro” with their talents — making filing taxes for others their profession.

When asked what would motivate them to become a professional, 87% of respondents believe it would allow for more flexible working hours, be a change of pace from what they currently do and allow them to learn a new skill.

“The goal of becoming a professional tax preparer may be more attainable than many people realize,” said Richard Marshall, Director of Sales at TaxSlayer Pro. “The right tools and training can help you develop practical skills without following a traditional four-year degree path.”

The survey also investigated exactly what other professions every “dream” friend group needs.

Aside from having a fiscal whiz, many said their friend group is better off when it includes a mechanic (41%), a doctor (32%) and a lawyer (29%).

Eighty-four percent agreed that it’s handy to have friends with a variety of skills, and one in five rely on their friends’ skills for help on specific tasks “all the time.” Gen Zers were found to rely on their friends most regularly (34%).

What respondents themselves bring to the table is being a source of entertaining talking points (28%) and sound fashion advice (24%).

“Being a financial expert doesn’t mean having every answer,” said Marshall. “It can start with practical knowledge and a willingness to keep learning. If friends already trust your guidance, that experience has value — and with the right training, you can continue building on it.”

Research methodology:

Talker Research surveyed 2,000 taxpaying Americans who have access to the internet; the survey was commissioned by TaxSlayer Pro and administered and conducted online by Talker Research between July 16 and July 23, 2026.