Step 1: Hamburger fold squared

neatly fold the 8.5"x11" sheet of paper in half (to look like a hamburger shape as opposed to a skinny hot dog fold). open it, and fold the two flaps into the middle, so it is split in 4 (second picture).

Step 2: Fold in 1/2 and then crease

now fold the paper in 1/2 perpendicular to the other folds and crease from the folds you just made. notice how it has a natural tendency to stay closed, this is the basic wallet shape. now unfold.

Step 3: Cut

Cut along the black lines (viewed from the inside) please note picture comments.

Step 4: Fold flaps

fold the 2nd and 4th flaps from the top inside on either side.

Step 5: Tape

tape the lower cut (not the diamond) so both sides are flush, your paper will not be flat anymore.

NOTE: this step can be done after step 7, it will be harder, but the wallet will lay flatter and be more square.

you can also put a small piece of tape at the top of the diamond (on the 2nd panel down)
as this is now the wallets weakest point

now refold, like in step 2

Step 6: Crease again

neatly crease the wallet starting from the back to the edges. 2 flaps should be sticking out of each end of the wallet.

this is not an original idea. its been done before. not a criticism but for those who are worried about copying it it would be fine or making another instructable. I have made them from A4 paper size it its just too small for Japanese yen. Also the flaps should be taped really well because the cards get caught on any un-taped paper inside the pockets. I also felt the cars could fall out too easily- the wallet is not stiff enough to