Mine does and it drives me insane. It's the first thing you see when you walk into our kitchen and it reminds me of a dorm room. Lists, budgets, magnets - it's too much.
So...I took a pointer from the lovely couple at Young House Love and decluttered my fridge in less than 30 minutes.
You'll need cork squares. You can find these pretty much anywhere office supplies are sold (I got mine at Michael's). These bad boys even came with self adhesive squares:
Pick a cabinet to house your cork boards. I chose our bowls & plates cabinet because it's definitely the one cabinet we open every day. You can put your cork boards up any way you like. I only had room for two and had to cut the top one a bit, since our cabinets aren't very long.
Originally I was going to use magnetic strips to hang the $1 list pad I got at Michael's but, I ran into numerous problems. The magnetic strip wouldn't stick to the cork surface, glue didn't help, and the list pad was too heavy to stay up. I ended up separating the list pad into 3 parts and just pining one part up.
A great project for under $10! Best of all, I still have two cork boards left to use elsewhere. This will make a great place to put emergency contact information for future babysitters.
For the absolute must-have-hanging objects, you can use adhesive hooks. I put the adorable calendar my sister-in-law sent us on the side of the fridge: