Its true that that is a good method and probably the traditional one they teach in school but, its not optimal.
you only asked for a solution, not an optimal solution, I believe BB's solution is equally on par with yours(if not better imo).
I was expecting your questions to be a bit different then what you posted, as these arn't really math "tricks" as much as math tips.
also, for your first question, in high school I became very obsessed with discovering that formula, I was always trying to figure out another way to devise the square of a number instead of multiplying the number, too which i eventually figured out the formula of n^2 =(n-1)^2+( (n-1)^2-(n-2)^2+2); or counting a delta upwards by 2 to be added to each squared number to reach the next.