I have got this stage of making a quilt down to a pretty exact science, gleaning bits and bats of several different instructors' methods over the years to make it my own. First of all, I have to say, that Christa Watson, whose blog I've followed for the past 6 months recently posted the BEST tutorial I have seen on this, right here. She does everything exactly as I do, except for the final seam, However, the difference there is negligible, as in cut a 45 angle first or last.
I have wanted to write this for a long time, because I've seen so many that "mess up" the final seam so the binding is, in effect, NOT continuous. Also the mitred corners get missed as far as stitching them, too. Happily, Christa, a quilter of some renown, does this BEST method. Yes, I'm on a soapbox. Okay, cough, I'll get off now.
TONS of pics alert!
Step 1
Tip: Choose a binding that not only goes with the front of your quilt, but also with the back. I once had a constructive criticism from a quilt show (and I've only entered that same one a couple of times, so I don't have a lot of experience here) that my binding didn't go with the back of my quilt. And it didn't.
Measure the length and width of your quilt. Multiply each side by 2. This is the perimeter. Divide this number by 40. Why 40? Because most fabric is 42-44" wide and 40 allows for the seams allowances you will need to deduct when sewing the strips together. And 40 is easy to divide by! Most likely you will have an uneven number. Round up. This is the number of strips you need to cut. Here is my figuring for "Hidden in Plaid Sight":
