It is not the strategy with the optimal use of money, but if you feel defeated because you seem to be making no progress then you are less likely to have the motivation to live frugally, and thus actually​ do worse overall.

It can be more important to encourage yourself than to actually optimize your cash depending on your personality and situation.

I recommend again "Thinking Fast and Slow"'s section on how cognitive biases interfere with sound money management. Being aware of them can be very helpful in countering one's own unhelpful tendencies. Interestingly, the book details how professional money managers fall victim to them, even when they are made aware of such biases.

This is one aspect where computer algorithmic investing can do better. One can dispassionately program out such biases.