[tsubaki]

Research the steering type you are using.
When I went to replace mine, seems I found no manufacturers willing to suggest using anything except hydraulic steering on motors 150hp and over.
Not having the money also, I opted to replace with the same that I had with the intention to save money for hydraulic later (hopefully).
I've had to on a couple of other boats do like MJ, phat, Monkey and csvencer said.
On certain boat and motor situations, removing the old cable may require unbolting the motor after freeing it up with the 2x4 then cleaning the tube, then honing the tube with a butterfly bit wrapped with waterproof sandpaper or even a very large masonry bit, then polishing with the brass shotgun cleaner.
The problem should get worse and require doing at least the above.