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mom wallet 

Oversized purse wallet carried by not a mom.
Erica has a mom wallet that barely fits in her purse. She carries it with pride
mom wallet by Chelsea Sanders November 13, 2007

olive wallet 

A stretchy slab of skin that usually holds testicles or cosmetic testicles made of any hard substance such as glass, marble, and even gold.
Jim's olive wallet tore when he attempted to jump the barbed wire fence spilling his wet olives everywhere.
olive wallet by leadfarmer1612 April 21, 2010

shit wallet 

When u open the pussy lips of a girl and shit inside and then close them.
shit wallet by Gogurtssss January 19, 2014

meat wallet 

A stuffed animal that has a tear in one of the seams, with enough room that one is able to insert their genitalia.
Oh, Pooby-bear, you're such a perfect meat wallet.
meat wallet by derek smalls December 7, 2006

Meat Wallet Sandwich 

A dog pile of lesbian chicks.
I was walking by the whorehouse and I saw a hairy meat wallet sandwich.

My wallet is too small for my 50's 

It's an slang very common in some kinds of situations.
You are about too ask a gorgeous woman out, you're not so sure about that, because you think "Oh, I can not as her out, my wallet is too small for my 50's".
It means that you are thinking that she is too good for you.