Just make sure that the top and the bottom of the binding match up. Other wise you will have to flip the thing over and sew it again, making it look a little shoddy.
Another method you could try is sewing the binding on the back first by machine, then do the front. This will ensure that the back is firmly in place and that the front looks nice.
The third way, perhaps my favorite way, is to take the backing fabric (trimmed to about an extra inch beyond the top all around) fold it in towards the center. This makes it about half an inch beyond the quilt top. Then you fold it in once more and pin it down. Voilia! Finished edge. Sew that sucker flat however you like, blanket (hem) stitch,zig-zag, or what have you. A decorative stitch would look very nice.
I know that I may have shocked some of the more serious quilters with this post, but these are only recommendations, if I had time I might sew it by hand, but I really doubt it.
This may come across as being very selfish, but when I make things for people I like to think that I get the most enjoyment out of making the thing. Basically, I make it for me, and then just give it away when I am done with it. (about five minutes after I make it) Exceptions being things that I have made for close family and a favored few.
Take some pics and move on to the next project.
Wife and I recently reupholstered a couch for my mom. I know that she will not really appreciate the level of work that we put into it, but it is good to know that we can do it, and it was great using the staple gun.
No pics of that couch to be had though, I don't think my camera could handle that much purple. My mom's living room looks like a children's show host/dinosaur exploded.
You can see the heavy white cotton thread that I have been using to tie it all together in the pic if you look close. Its down the left side, and along the bottom. I just went from spot to spot and then cut in between. Still took a while.
BlondGirl is right, this is about the easiest way to do it. If your spots are to close together to have enough to tie with, make sure to leave some slack. I like to put my quilts on a big hoop when I am doing the ties, it makes pushing the needle through much easier. A sailors palm or a thimble can also help.
Longer hanging ends will make it easier to tie (looks at hands cut up by pulling on heavy cotton thread), much easier.
Also, when doing rotary cutting, let the cutter do all the work, don't press down so much as zip forward. That should keep the blade sharper longer. The more pressure you put down on the cutter, the faster it will dull.
ZumaGirl74 is right though, you will have to replace the blades eventually.
The only thing that I would watch out for is streachy vs non-streachy fabric. The last thing that you want is for your sewing machine to pull the streachy stuff all out of whack while you are putting it together.
Other than that, good for you! Way to not go out and buy a whole pile of fabric and other suff when you have all kinds of it sitting in a dresser. You don't really even need batting, you could use an old blanket or just go without.
I am sure we would all love to see pics of your completed project.
I like to wash the sweet loving monkeys out of my fabric. I wash on hot, and then make sure that the dryer does a thorough job of it.
I should add, I don't work with delicate fabrics, mostly just cotton solids and prints.
When it comes out, iron it well. I have fun pulling and breaking those little strings, great stress relief. For best results I hit it hard with the spray starch before ironing (keeps the squares neat, they fray less, and cut better).
The point of all this is that if the fabric is going to shrink, bleed, or fall apart, I would rather have it do it before I make it into a quilt rather than later.
After it is all assembled and finished, you can safely wash it knowing that nothing bad will happen to it, getting rid of all that starch.