What's the best way to wrap a Macbook's power cord?

I've had this Macbook for a little more than a year. Being a college student, I'm frequently moving between classes, apartments, work, and other events, and everywhere I take my laptop, my cord comes with me.

Whenever I pack up and head out somewhere, I use the two built-in flaps that Apple puts on their power bricks, but after a year, the cord has some pretty gnarly kinks where it corners those flaps. Also, where the cord comes out of the brick and where it goes into the computer, it's starting to actually fray and show wires.

Because I'm kind of nervous relying on a cord in this state, I'm looking into purchasing a brand new replacement, but I want to make sure that, from the start, I'm not naively or ignorantly abusive to it. Therefore, I'm turning to all the great minds in this forum to ask...

"What's the best way to wrap a Macbook's power cord?"

Any tips, tricks, or even relevant information on how the cords work would be great.

Thanks everyone, and have a great day. :)