When I was younger, wallets are kinda status symbol. The nicer wallet you have, the cooler you are. As I got older, I became practical and more simple about it. I think having a very nice leather wallet only puts you into risk and false assumption that you have lots in there. Unless of course, one's intent is to show off, which I find others simply do.
I use envelopes and recently a plastic and transparent wallet that is a giveaway by Best Food. The simpler the better, I guess.