Are you completely done with your first quilt except for the raw hems on the sides? You could just sew the hems shut with a whipstitch, but if you want to add a little more ornateness and decadence to your quilt then you should watch this video to see how to add binding.
In this video tutorial you'll learn how to take the proper measurements to make your own binding for a quilt. This video covers beginner sewing & quilting techniques. You'll see how to attach shorter strips of the binding fabric to make one long continuous strip, how to attach it to your quilt, mitering the corners and finishing the binding edges.