When I’m travelling or outside taking photos I have always had trouble organizing my CF cards. However, I think I have found the perfect solution, just the other day I purchased a Pixel Pocket Rocket which is made by Think Tank Photo. Mine is bright red (it also comes in blue) and it easily holds ten CF cards. If you don’t need to carry so many CF cards the alternative would be the Pee Wee Pixel Pocket Rocket which is a little bit smaller and can hold four CF cards and three SD cards. You can use the simple method of keeping the label side up (viewable through the window) when the CF card is fresh and storing them label side down when the card is full. It has a roll up design and closes with velcro. There is also a short lanyard that allows you to fasten it to your camera pack or jacket.
I purchased mine from The Camera Store.
This camera accessory even has a convenient pocket with a clear window where you can store a few business cards.