I do this as well. I make up ridiculous words though, so it's easier to memorize. You could also try the journey method, which I heard was good.
Last question, I promise as long as the megaminx question gets answered: V-cube 5x5 and 6x6, or a gigaminx? I have an eastsheen 5x5, and it will be an x-mas present so money shouldn't be a factor.