I have never used braid backing on a reel in my life. I have always just filled the entire spool with the line that I am using. But after all I have read I figured it is time to try the braid backing technique with a little more expensive line, but I don't want to waste a bunch of the nicer line on the bottom of the spool. Any tips or useful information are greatly appreciated.

 

Thank you 

Not uncommon to use braid with a mono top shot in saltwater. For bass fishing the opposite is more popular, mono backing and braid main line.

http://www.passionforthesea.com/helm/the-top-shot-revolution/

I use cheap mono, the kind that you can buy 600 yards for $3. Whether I fish with mono (formerly) or braid (currently) I use enough backing such that there is room left for about 50-60 yards of the good line that I fish with.