Last couple of months now I've purchased the same $6 lure and every time I've used it, I've managed to land at least 1 fish even if they were not biting on anything else. That said; on those same outings, I've hung it up and wasn't able to retrieve (I'm bank fishing). At this point, I've purchased this same lure 5 times in a short period and am beginning to question my return on investment!

Tournament only bait.

heavier line,..

swim suit??

If it's a crank Bait get you one of those lure retrievers.sometimes it will unsnag a jig too

Take the hooks off, duh

Here's a crazy thought... if it's a crankbait of some sort, take off one of the treble hooks.

since you are bank fishing, tie it on 65# braid; hang it up, point your rod straight at it and pull - you might straighten the hooks, but its cheaper to replace hooks than lures.

OR invest in a float tube to go out and get it

Can't really help you without knowing what brand/color/style the bait is.

Learn to love losing a bait. It's part of the game that you can't avoid. And be glad it's just a $6 bait and not a $25 bait.

what Ted said but make sure you duck or you may be wearing it in your eye

Get a big (2 oz maybe) casting weight and a big snap swivel. Attach the swivel to the weight. When you get snagged, clip the swivel onto your line and let it ride down to the lure. Bounce it up and down to try to get it to the lure and work it free. Sometimes, I'll give up and start walking away from the water to break the line and the lure pops free. It doesn't work every time but often enough. And then realize that you're going to lose some baits and that's the cost of fishing.

I have a lure retriever and it works great. I've only had it for a month and it has paid for itself.