Volvo: 1989 Volvo 240 GL screeching, volvo 240 gl, crankshaft pulley

Question
I bought this volvo about 2 weeks ago and it was driving fine, no squealing, nothing.  Now, the car makes a sound like the wheels are spinning out even though they're not when I turn the wheel far or even sometimes coming out of a turn when i'm driving straight.  my boyfriend said it was either the power steering or the belts.  i bought power steering fluid and filled the reservoir up.  now the sound doesn't last as long but the car still makes that awful sound. i'm guessing i should take it in, but does that sound like a serious problem--as in > $100--or should i not be too worried.  I live in a fairly warm climate and the sound sometimes seems to coincide with the temperature gauge rising.  the higher the gauge, the louder the screeching.

Answer
Portia,
Sounds like possibly belt squeal or even the crankshaft pulley begining to come apart. The water pump or alternator or even the P/S pump is capable of making the noise. Yes I think that $100.00 is enough if it is belt noise, but short if there is more wrong.