If you’re going to use the chain whip you just made, you’ll also need a way to get that cassette off. A lockring remover is a must-have; unless you use one of the shady removal methods I’ve seen on the internet—which I wouldn’t necessarily recommend unless you don’t care much about the condition of the wheel after you use them. I recommend Park Tool’s iterations here that cost about $6, but you’ll need to buy the specific one for your brand/type of cassette. (By the way, I’m assuming you already have an adjustable wrench laying around somewhere to use with this tool. If you don’t, well, you’ll need one of those too.)
Over the years, I’ve come across plenty of articles that claim to tell you how to build up your cycling toolkit for cheap. Somehow the word “cheap” stops recurring in the long list of “essential” bike repair bits and pieces. The truth is, there is no real way to build a whole shop of tools all at once without plopping down a few hundred bucks. But in an attempt to show everyone that not all of us truly need a full complement of bike tools, I present the truest, most budget-conscious, and barest of bones options to you.
Brakes come in a variety of designs depending on the age and style of your bike. Rim brakes offer more modulation but have less stopping power, so are more suited to riding on the roads. Disc brakes can provide huge amounts of stopping power so are best suited to off road riding, although ‘V’ rim brakes are also well suited to mountain biking. All brakes use a friction system to stop the movement of the wheel, so regular checks of the contact pads should form part of your regular cycle maintenance.