familiar similar sounding words

[Scoobyqueen]

I was wondering if many people employ this method to remember some Chinese words

[Lu]

Not often, but when I happen to see such a similarity I use it to remember the word. One is 忐忑, 'tante' meaning 'aunt' in Dutch.

[Horse]

This sounds like some of the mnemonic techniques Barry Buzan talks about in his memory books. I dont use the trick you're talking about but if you need help remembering characters i cant recommend 'Use your Memory' and 'Master your Memory' enough, they have quite literally revolutionized the way i study. check them out....