It's not a bad thing to do per se, you really need that 1GB freed up? If you have a SD card, you will find that you can move some apps there to free up space. People will say they load slower etc etc, it doesn't move the entire contents, it leaves some in internal memory, I moved a ton to my SD card and when I open one of those apps, I notice no hesitation or lag.
Clearing your cache slows your system and applications down. The whole purpose of cache is to improve performance by reducing the frequency of redundant data movement and processing.
Android recovers cache only on an as needed basis, and so more often permits intended performance gains to be realized. When you manually delete cache, this somewhat arbitrary activity does little more than slow your apps and device down, which is opposite of what many users expect it to do. Clearing cache is equivalent to filling your swimming pool every time before you jump in, and then immediately draining it every time you get out. All of that effort used filling and draining the pool wastes valuable time and energy that could instead be used for swimming. When you clear cache, the CPU, network, etc. has to do all of that work over again, merely wasting energy to accomplish the same end result. Android and applications typically know better than users when cached data becomes stale or dirty, and unless there is some defect in the software, cache does not typically require any manual action.