This was a Christmas present I made for a few girls on my list. I remember these back in my high school days from a Simplicity pattern. I found this one on Sew 4Home, one of my frequent visit blogs. They have a great tutorial with a pattern if you don't want to draw the circles yourself. I'm just adding a few more tips here. There is also a You Tube that someone offers several great tips.
I hope its not too confusing that pictures were taken of different bags made with different fabrics?
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Tuesday Tutorial
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Fold and press to create guide lines to follow.
Also fold and crease the paper pattern found on Sew4 Home
Use a heat sensitive marking pin.
I agree with the idea of tucking in the padding from the inside.
Easier to tuck in first and sew around later.
Used the quarter inch foot to sew around the edge.
Used generic foot to sew lines and zig zag tack at beginning an end
for reinforcement of each pocket.
Set buttonhole foot for a 1/4 inch long buttonhole.
My mistake here is marking the button hole from the raw edge.
I should have allowed for 1/4 inch seam allowance.
You can store and/or travel other things besides jewelry.