Simply place a Post-It a 1/2 inch below the area where you'll be drilling. While the Post-It is adhered to the wall, fold it UP in half and you're ready for drilling. If you don't have a Post-It, you might be able to use painter's tape and slightly thick stock of paper.
The Post-It acts as a mini-catch supporting all that drywall dust from the hole. Once you're done, carefully remove the Post-It and toss in the trash for easy cleanup. Thats it.