I'm kinda new at quilting too and I realize this subject is a little old but I wanted to add something. I know there are traditional ways to make quilts and fancy ways to put binding on. But I guess I'm just lazy because as a seamstress who does clothing, I have a habit of looking at things as being sewn and then flipped inside out to finish. I found a youtube video of someone doing this with a very simple quilt and I think this a really fast way to do a quilt.
Here's the video: http://www.youtube.com/watch?v=5q0L57g8pBo
I intend to do this with my quilt. Then if you have a large quilt and don't want to pay to have it quilted, you could do the tie method someone else already mentioned.
Here's another video about tying quilts that I also think is really easy: http://www.youtube.com/watch?v=kI6AcTqr-YM
I'm not knocking the traditional way to do a quilt. I think it's great to keep that alive. But although I like quilting, I like doing clothing better so quilting is not my first love. And I have a habit of short-cutting because I don't intend to sell anything I make. So, for a newbie, I think that these types of quilt short-cuts can help make you feel like you accomplished something rather than running into a lot of confusing methods and terminology.