Arizona super spenders? The Grand Canyon State ranks 3rd in spending on nonessentials

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FILE-In this photo illustration, a person holds a wallet filled with $20 dollar bills. (Photo Illustration by Thomas Trutschel/Photothek via Getty Images)

PHOENIX - A new study says the people of Arizona might go a bit overboard when it comes to spending money on nonessential items.

It claims Arizonans spend 48.01% of their average annual income on unneeded personal purchases.

The study was put together by a research team from Coupons4Real.com and used information from the Bureau of Economic Analysis and Federal Reserve Economic Data.

"Americans consistently demonstrate their enthusiasm for the holiday season by dedicating a significant portion of their budgets to non-essential spending, with these insights revealing how different states prioritize their festive budgets," said Coupons4Real CEO and Founder Panayotis Nikolaidis.

Christmas shopping was included in the study and is considered one of the main drivers of discretionary spending.

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Consumers eager to get an early start on their holiday shopping are willing to spare no expense on gifts, according to a new poll.

"This trend highlights not only the cultural importance of the holidays but also the broader impact of consumer behavior on the economy during this time of year," said Nikolaidis.

Maine (49.38%) and Michigan (48.61%) were the two states that outspent Arizona from a percentage stand point.

South Dakotans have the tightest wallets in the country, spending only 38.27% of average income on personal spending.

A full list of the top 10 states can be found below: