Question!

[kimdavinci-xd.livejournal.com]

Believe me, I have looked through the memories as well as google, and I guess I'm the only idiot who can't figure this out. I got a new singer machine yesterday and I'm just practicing the straight stitch.  I know this is tedious, but I promise I have a point in all these pictures. >____<

After threading the needle, the needle goes up and down to pick up the bobbin thread.  I'm assuming that I did this right.


I then brought both the top and bobbin thread underneath the presser foot, to the back.  When I do this, the bobbin thread still leads to the sewing machine's thread-course-thingmabob.  Is that correct?  I'm just confused because in the booklet, the picture showed two separate pices of string that were ended.

 
Ok.  So I sewed a straight line and pulled the fabric out a bit.
In the left picture, where I started sewing, one of the threads on the top (I'm going to assume it's the bobbin thread ) is still attached.  
In the right picture, both threads are intact and still connected with the machine.


The booklet said to cut the thread that was in the picture on the right.  So I did.  Correct?


However, on the other side, I'm still left with that one thread.  And because I cut both threads on the other side, I can pull it out completely.

So my questions are:
Am I doing that correctly?  When I pull out that thread it just seems like such a humongous waste!
and...

 
The book said to do a reverse switch to help secure the stitch, but I'm still left with these openended strings and I'm not sure how to really....end it?  Someone please inform me.

And I know this is the most airheaded question, but the top stitch it the one on top, correct?  Or is it on the bottom because the top thread ends up on the bottom?  Or does the top thread end up on the top, and is still called the top stitch?

HELP MEEE PLEASE ALL YOU AMAZING CRAFTERS
T__T
TIATIA

::EDIT::
Thank you guys so much!!!
As for the vagueness in my post, especially in the first half, I just wanted to make sure I was doing everything correctly.  
And after I cut those two strings final strings after stitching, I just start all over again in setting up the bobbin thread, and its course and all?