Americans are taking their paid time off from work but are cutting back on big vacation spending as they are not ready for unplanned absences that impact their paycheck, a survey has found.

According to a research by a financial services company, the Hartford Financial Services Group, more than half of workers in the US plan to use all of their paid time-off but are cutting back on vacation spending.

Out of 1,019 employees, 56 per cent plan to use all of their time off from work, while 67 per cent want to postpone their vacation.

"Employees said they value the paid time-off that they receive from their employers, but they continue to be worried about their income and expenses. And as a result, they plan to cut back on vacation spending. This could be the year of the so-called staycation," The Hartford's Group Benefits Division absence management director Marjorie Savage said.

The report found that majority of the workers are mostly concerned about personal finance followed by the economy (43 per cent) and only 27 per cent of employees fear losing their job.

Fear of losing one's job registered across all generations and genders. In addition, one in three workers (36 per cent) said they are worried about layoffs.