It's actually very easy to make:
first of all I folded about 40 sheets of paper in half to create the pages of my journal and I made 3 holes in the middle of the folding line about 4 cm (1.57 inches) distant from each other.
I cut a piece of thin cardboard as big as my sheets of paper and folded it in half too: this is the cover of the journal.
I made other 3 holes on it, just like the ones I made on the sheets.
I tied a red lace to keep the sheets and the cover together passing it from the 3 holes. I made the lace long enough for it to become a bookmark too and let it come out from the outside of the cover.
Once I finished this, I put a thin layer of wadding on the cover.
I cut a piece of beige velvet about 2/3 cm (1.18 inches) bigger than the cover and put it on the wadding (that I had already positioned on the cover). I glued the sides of the velvet to the inside of the cover with hot glue and also covered the insides with other 2 pieces of velvet.
Meanwhile I made a hole in the middle of the velvet for the lace to come out.
Inside, I hid the sides with trimmings and cut and glued a piece of plastic to create a pocket.
Finally, I cut a 9x2cm (3.54x0.78 inches) piece of beige fabric and glued a piece of velcro to one side of it. Then I glued the other side behind the journal and the back of the velcro to the front of the journal to close it.
I added a button to it as a decoration and voilà!
It's much harder to explain without pictures but if you have any questions I'm ready to answer! :)