Wallets serve many various purposes for different people. If you can't afford the designer handbag you've been dying for, you can probably get the same or a similar pattern in a wallet style for a much cheaper price. Or you can simply add to your collection by purchasing a wallet to use in conjunction with your bag. Wallets can serve to show off more of your fashion sense or they can be extremely functional.
A lot of people love the Magic Wallet which you may have seen advertised on television. The Magic Wallet actually organizes your receipts and papers for you; you place them in the wallet, open and close it, and your papers will be bound to the wallet by the wallet's elastics. Not only is it handy to carry around but you can also entertain your friends by showing them the wallet's magic.