There are a fair number of folks that do that. Some folks prefer a doubled flipline that has a prussic in the middle to make it work like two fliplines when you are going around a branch. I tried that for a while, but found it cumbersome.
With a little bit of thinking about it, you will realize there isn't any difference between your climbing line and a really long lanyard. They both anchor at one end to your belt, and the other end attaches to a friction device that makes the "lanyard" adjustable in length. Of course, that presumes you are using what is called the "doubled rope technique" with a split-tail attachment (DRT).
You ain't ready for SRT yet, given your reluctance to spend money on extra climbing toys.