Deanna , { my birth given name is Dena} :D my very critical mom is half the reason I don't attempt anything out of my comfort zone. I vowed to change that this year & I am 55 yrs old. I could go into alot of pycho pabble but bottom line is do what you like...I have finally realized there are no quilt police, they aren't going to come in my home & arrest me.
I've done my quilts in several different ways:
I tie alot of my quilts,
I also bind the way you described,
I also use old blankets instead of batting sometimes-ok most of the times.
I taught myself to quilt years ago when I had a family and needed to do things cheapy.
I hate reading patterns so most of the time I design myself or even wing it as I go.
There is no right or wrong its what you want and if you are happy with the end result thats all that matter.
Happy Quilting!!!!