What to do about these chips in paint (with rust)

[ignign0kt]

There are chips in my paint near the hinge of my driver side door.
I'm just wondering the best cheap way to go about fixing it so the rust or chips do not get worse.
Should I use sand paper or something to get rid of the rust, and just touch up the spots with paint?
Not really concerned how it looks at this point, just don't want it to get worse

[ignign0kt]

Also, it'll take a week for me to get the paint, should I leave the rust? Or sand it off ASAP until I get the paint?