19LAREDO89

I recently bought a 1989 Cherokee Laredo. Its all stock besides the tires the guy put on it. I'm just curious on what is best for it. I want it to be my daily driver, but also want to be able to have some fun. Any info would be greatly appreciated. I would like to get new wheels and tires (and with that, what gear ratio would be best), also, what lift would be best. I don't have a ton of money to put into this, but figured I could do little at a time. Also, my part time light is always on. I haven't figured out why that is, it is on whether i'm in 4WD or not. Just looking for some input.

Thanks,
Matt