There are no quilt police. It is your project start and finish it whatever way pleases you. I personally like a bindng cut and add but I have seen the fold-over done and looks very good when done correctly. Sometime what you cut off of the back to square your quilt might be used to bind the quilt. I cut my binding at 1 7/8 inches and you can get lots of binding out of little fabric. But all in all keep quilting.