Ride Bike Pro Gear

tips on upgrading a mongoose xr250. serious answers only please.?
ok my mongoose xr250′s freewheel and rear dérailleur both need replaced as both have gone bad. i am on a budget so i need REASONABLE prices i.e. no $600 parts. my bike has a 4.5 in. (115mm) freewheel and a shimano tourney megapulley 15t derailleur. i need products with similar sizing and much better durability and performance. make sure suggested parts will work well together. also what is a good low-cost chain i could get as well? please dont tell me to buy a new bike either. im on a strict budget. oh and take into account that i use the shimano 7 speed trigger shifters it came with, so im limited to 7 gear drivetrains. my budget is around $120-$180 i might be able to push $200 but not much more. im not looking to turn the bike into pro-grade hardware, ill be happy with something that will ride smooth on the streets for a long time.
I will answer your question as seriously as I can.
If you really love your bike and refuse to replace it, here is what you want to do, in order:
1) Replace the entire drivetrain- shifters included- with Shimano Alivio 8 speed. This will include the SL–M410 shifter pods, CS-HG50-8 cassette, RD-M410 rear derailleur, and FD-M410 front derailleur. Available at http://jensonusa.com for a total of about $80. You may need brake levers as well- Promax v brake levers are about $15 a set. If you need an 8 speed freewheel instead of a cassette you’ll need to change that part as well. You’d do well to replace the chain as well- make sure it works with 7/8 speed systems;
2) Replace the rear suspension pivots- pull out one of the plastic doo dads that are in there and go to your nearest bearing place (there are a bunch of them) and ask them to match up what you have with bronze or oilite equivalents. The diameters are what is important here- if the length is different thats not a deal killer;
3) Replace the crank with Shimano Alivio FC-M410 crankset. Make sure to get a crank that has the same number of teeth on the BIG chainring. You will probably also need to replace the bottom bracket which may or may not come with the crank.
4) Go to http://nashbar.com and but an entire closeout bike for $199.00 and swap the parts.
You really did buy the wrong bike for on road riding. Next time you should consider a hardtail bike. It will be much more comfortable and efficient.
EDIT: I just looked at Walmart and your bike has a freewheel, so you should NOT buy the cassette. Instead, get an 8 speed freewheel.
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