Yes, you're talking about slipping the first stitch. That's what I do, although a lot of people don't do it, it's really a personal preference.
It's amazing how tight the BO can be. The other day I was working on a project where I needed a looser BO so that I could later pick up stitches in it, and so that it wouldn't be too firm. I'd been knitting with size 3 needles. I ended up binding off with size 8 needles! And you'd never know by looking at it!!! (I'm sure I could have used size 9 needles. Who knows, maybe even bigger!)
When I first learned to knit, no one showed me how to hold the yarn, and for years I held the yarn by squeezing it between my index and middle finger, "cigarette style." If you get a hankering to hold a cigarette, you can hold your yarn this way instead! LOL
(It's murder on the hands, actually, I wouldn't recommend it unless your desperate! te he.)