how do I repair a stripped out screw hole in the wall

I have been drilling the hole bigger with a 3/4 forstner bit (carefully) to the depth of the back wall but not into the back wall (slightly longer than the screw you removed usually) then installing a 3/4 dowel into the hole using a polyurethane glue. The polyurethane glue will expand so be sure you tape the dowel so it does not push back out.. then using a flush cut saw clean off the bit of dowel sticking out, drill and re screw. haven't had one fail on anything yet.