The only expense you may have is better line..I'd go with 10 pound Trilene XL ..about 5.00 at Walmart..

I presume you are using a closed faced reel..They tend to have unreliable drags..most likely why you lost your fish..and line hang ups..I no onger have any of these type of reels.

Back in 1983 my wife and I were on a very tight budget..We picked up 2 cheap open faced Diawa combos for about 20.00 each ,,,they lasted for a few years..I landed bass up to 7 pounds on it and catfish up to 5..It's all you need..

If you need advice..when fishing live bait..don't use any split shot bigger than a BB and your hook should be a # 10..It's about 1 inch long..I like the gold hooks. I generally tie on the hook and then put a split shot about 10 inches above the hook..cast out as far as you can and put your rod in a forked stick and watch..{ -; catfish and shellcrackers are very suttle.

If you use a bobber..try to keep your bait about 12 inches off the bottom.