How does one change the timing belt on a 1994 Ranger?
By timnig belt are you talking about the main drive belt that runs all the accessories and the water pump on the front of the engine. If this is the belt get a 15mm wrench with a long handle (24"). put this on the take up pulley on the front of the engine and pull it over to take the tension off the belt. A picture of how the belt is run is in front of the engine as you open the hood. After removing the old belt replace with the new belt using the picture as a guide. Make sure the new belt is seated on all the pullies before you start the engine.
Ford's scheduled maintenance guide for the 1997 Ford Ranger states to INSPECT the timing belt ( 2.3 L only ) at 120,000 miles. Wvafan , another contributor to this website and also a Ford mechanic/technician likes to change the timing belt at 90,000 miles I believe . ( Gates and Dayco websites - they manufacture timing belts - recommend every 60,000 miles )