The letter P stands for Point of View.
Frankly, I think writing in FIRST person point of view is MUCH easier than writing in third person. Why?
Here's my number one reason:
When referring to parents, do you write:
1. Abby's mother
2. Her mother
According to "Uncle Orson's Writing Class" (click here) you should use Mom (basically). To quote: "You refer to the parents by the names or titles that the point of view character would use."
But ... according to Meg Chittenden (click here) you should use her mother (basically). To quote: "She was getting sick of her mom yelling at her for something that wasn't her fault."
What's your vote?
I'm going with Uncle Orson.