Do you find yourself wondering where your money has gone by the end of the week? If so, you’re not alone, according to Max Thompson, RBC’s head of GICs & Savings.

"You see something on sale or that catches your eye, and you decide to buy it, without planning for it or thinking about whether you really need it," says Thompson. "Everyone buys on impulse sometimes, but the trick is to not do it continuously, because then it becomes a bad spending habit."

Here are some tips on how to curb your bad spending habits.

1. Decide what you want and commit to it. Whether it’s for an HDTV or an emergency fund, setting goals helps you save for what’s important to you.

2. Focus. If you have a weakness for impulse buying, write down your goals and when you want to reach them. This will help you stay on track and avoid buying things you don’t really need.

3. Know yourself. Figure out what you actually spend by keeping track of how much you pay for little things like coffee and lunches away from home. A simple tactic such as cutting out one cup of coffee per day can save you a lot of money over time.

4. Pay yourself first. This is the golden rule of saving. Get in the good savings habit of setting aside some money from each paycheque. Setting up automatic online transfers to your savings account can help you do this.