IMO, I like to use 15lb flurocarbon. Any brand should do, but since you are on a budget, going with Berkeley Trilene 100% fluorocarbon should do you good. I have found that I can throw chatterbaits, spinnerbaits, squarebills,medium divers, jerkbaits, softplastic swimbaits, and smaller swimbaits on a 6:6:1, medium action rod with 15lb fluro on it. Flurocarbon doesn't have to much of a tenedency to stretch as much as mono, but when fishing cranks with exposed hooks, you shouldn't have to worry to much about the line stretch with fluorocarbon. For rod and reel set up, what you have should be fine if you are on a budget. What weight spinnerbait and chatterbaits are you throwing on your rod?