Study: Americans Turn to Friends for Financial Guidance, Including Tax Prep

When Americans have questions about money matters, many turn to trusted friends for advice. 

A recent survey of 2,000 U.S. taxpayers, commissioned by TaxSlayer Pro and conducted by Talker Research, found that nearly a third of people who have a “financial expert” friend say they consult them all the time. And according to respondents, that friendly advice can save them nearly $500 each year. 

The findings highlight something tax professionals already know: Americans place significant value on practical financial expertise. But what may come as a surprise is that, whether they’re looking for help improving a credit score, understanding investments, or filing a tax return, many people actively seek guidance from those in their inner circle.  

For those who are confident in their financial knowledge, helping others navigate taxes may be more than a favor for friends and family. It could become a rewarding career opportunity.

According to the survey, more than a third of Americans (35%) believe every friend group needs a financial guru – someone who provides practical, real-world guidance that applies to their daily lives.  

Respondents shared lessons they’ve learned from financially savvy friends, including simple but memorable advice such as “always check the receipt” and “don’t buy anything if you can’t afford it twice.”  

The value of that guidance goes beyond good habits. Survey respondents estimated saving an average of $482.10 by following financial advice from a trusted friend, and one in seven reported saving more than $800.  

Perhaps most telling is the range of topics people seek advice for. Tax-related guidance ranks among the most common forms of financial advice people share. Respondents who say they are the “financial friend” in their group reported helping others with: how to file taxes (31%), how to invest (30%), what types of savings accounts to use (29%), which credit cards to get or avoid (29%), what to invest in (28%), and when to buy or sell items (27%).

For some financially confident Americans, helping friends and family with money matters is already second nature. The survey suggests that many of these people may also be well-positioned to explore tax preparation as a profession. 

Among respondents who are confident in their tax-filing abilities, half have offered to help friends or family prepare their returns. That willingness to share knowledge reflects the same service-oriented mindset that drives many successful tax preparers.  

Even more notably, 42% of self-described financial gurus said they would consider making tax preparation their profession. 

When asked what would motivate them to pursue a career in tax prep, eighty-seven percent of respondents said the opportunity for flexible working hours would be attractive. The same percentage were motivated by a career change or the opportunity to learn new skills.  

Some people may not realize what it takes to become a professional tax preparer. Nearly all respondents (96%) said they would feel more encouraged to file taxes professionally if they knew a college degree wasn’t required.  

As the survey shows, people value trusted expertise, especially when it comes to taxes and other important financial decisions. For those who already enjoy helping friends and family navigate financial questions, professional tax preparation may offer a flexible, rewarding way to turn that knowledge into a career. 

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