That is the best way to do it. Programs will benefit from the additional speed, they will load faster and perform better. Project files and code / documents etc don’t get as much of a benefit from being on an SSD, aside from loading slightly faster, so they can be stored on an HD.
Look into Hybrid hard drives as well, they are a Hard Drive with a SSD in one unit. They work similar to having a SSD for programs and an HD for documents, but they are slightly more expensive right now (about the same price as buying them separately).