This tactic proved very helpful for me as I could make sure all my notes were neat and easy to read ready for when I need them to revise from. This can also be a good way to use free lessons as you will still be revising and it can be a good distraction from (for example) going to any shops nearby and spending money you may need later on.
After you've re-written your notes you need to keep them safe so you can find them again when you need them. Using a file is the easiest way to do this. You should really ask your teacher on whether you should get a small or large folder for their subject as getting the right size from the start will avoid you spending more money.
I recommend using ring binders and, even if the paper you use already comes with holes in, I also recommend keeping your notes in poly pockets as this will avoid the paper ripping, thus avoiding fall outs, and having to carry around a hole punch and figuring out where to put the holes in any handouts you may get from your teacher.
In organizing these folders I always found using dividers very useful as you can write the titles of the modules on these and any other parts such as 'Essays' or 'Rough Notes', which you can keep your original class notes in, in case anything happens to the new ones.