A new study has revealed the states that spend the most each year, with Florida ranking 10th overall and Maine ranking number one in the nation.
The rankings are based on research conducted by the coupon site Coupons4Real. It analyzed consumer statistics from the Bureau of Economic Analysis and the Federal Reserve Economic Data to calculate each state’s spending versus its average annual income.
At the top of the ranking, being crowned the state with the biggest spenders is Maine. Mainers spend a staggering 92.33% of their annual income, which is approximately $55,789. Out of this total expenditure, $29,840 is spent on other non-essential personal expenses that are not necessities like housing, utilities, gas, other energy, groceries and healthcare.
Florida spenders hand over 85.67% of their yearly incomes. This means every Floridian coughs up $55,516 annually, and non-essentials take up $30,964 of this expenditure.
In second place is West Virginia, where residents spend 88.88% of their income. West Virginians have an average expenditure of $44,460 annually, and approximately $22,042 of this goes toward what is classed as non-essential expenses, like vacations, for example.
Vermont took the bronze in third place, where residents go through 88.43% of their annual income. This is a total expenditure of $55,743 each year, and about $29,178 of this goes on non-essentials.
The only southeastern state that also ranked among the top ten was South Carolina, where residents spent 86.21% of their annual income. The average expenditure per resident in South Carolina is $46,220, with $24,932 of this being for non-essentials.
