So you want to get rid of those love handles? Simple crunches won't help you there! You need to work on your oblique abdominal muscles (the sides of your abdomen).
Begin by lying flat on the floor with knees bent up.
Clasp your hands behind your head.
Now begin by raising yourself off the floor while guiding your right shoulder to your left knee. You should start to feel a burn in your abdomen and right oblique muscles.
Repeat this as many times as you desire, and then switch sides.
You should probably do two to three sets of this once a day or once every two days. Try setting a goal and slowly increasing it: Start out with 30, and slowly increase the number to 35, 40, etc. It is also important to know that there are several variations on a theme, and that this is just one of them, but it gets the job done.
One important note so as not to injure yourself: Do not force your head up with your hands, or you may cause neck/spinal injury. Just let your hands rest behind your head.
..And remember, as with most other exercises: It will take time to see the results!