Another way to finish your quilt is to self-bind it. Also known as fold-over binding because it's made from the excess backing fabric and it's literally folded over to the front side of the quilt!
Once the quilting has been done, normally all three layers of the quilt will be trimmed so that all edges are the same. Then binding is usually added to enclose all the raw edges.
When self-binding, and provided there is enough excess of the backing fabric, then the wadding only ...