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Take an empty coffee can. Cut a star pattern in the plastic lid. Add rocks for weight. Keep this in your boat. It’s easy to ball up old line and stick it through the star cuts into the can. The lid will keep it from blowing out when trailering and running across the water. When bass fishing I always breakoff 2-3 feet of line when I re-tie. I found this to be the best way to handle old line.
I do the same, then periodically take the lid off and hit it quick with the torch. Melts the mono down into a glob at the bottom so no messes like the above pic.