FF2: Does it work being a Knight AND a Wizard?

[Peter_20]

So, I was planning on using this "Paladin - Black Wizard - Monk" party, cuz I actually liked that order.
I´ll probably try it after I finish my "Knight - White Wizard - Black Wizard" one.

I was just thinking about something, though...

You know, casting white magic (raise Soul/Spirit) will decrease the Vitality or something like that, and vice versa.
This of course means you´ll be pretty limited in the fighting and healing departments as a Paladin.
However, I was just thinking, won´t you be pretty fine with using Cure, Heal and stuff mostly outside of the battlefield?
IIRC, I never saw Stats dropping while using magic in the menu screens, so wouldn´t you be pretty fine with using Cure, Life and stuff there?
Actually, you won´t need that much magic either, the only essential white magic being Cure, Life and Heal (possibly Exit as well).
Sure, you MIGHT have to use them in battle too, but that´s no big deal, since you won´t die very much or anything anyway, if leveled properly.

So, do I understand this correctly?
You know, using white magic very sparingly in battle, hence not decrease much Vitality at all?