Understand this is a very crude method, greatly superior to the useless string method but greatly inferior to a real alignment. When done this way you will notice some wander; a proper alignment balances slight toe forces against camber forces to take the slack out of the wheel track.
Not sure how cheap your tyres are but a steering alignment is about a quarter the cost of one of my tyres and about half the cost of the cheapest tyre for my truck, so in the long run much cheaper to just pay to get a steering alignment. Maybe not for a 4 cylinder with small wheels though, where the steering alignment is probably the cost of a cheap tyre and a half. Basically doing the steering alignment your self is useless, unless its seriously out of whack and you want to get it half ok. Measurements are ridiculously fine and unmeasurable on a measuring tape to get a good alignment.
String method is about as accurate as using a tape measure. But no it isnt even close, will still cause premature tire wear. I guess it is cheaper to replace 2 tires than it is to have an alignment done
If you are "tight on money," why do you own a car in the first place?
Saw the string method of performing a front end alignment on a truck or car and myself being tight on money and already needing tie rods wondered if it would work with fishing line and a tape measure after i replaced my inner and outer front drivers side tie rods and readjusted my torsion bar bolts because the bolts are different lengths and i believe causing my truck to lean slightly farther down on my passenger side. Thanks all