A system and method for monitoring belt wear or tread wear of a tire includes at least one radio frequency identification (RFID) tag with unique identification embedded in the belt or tread of the tire at one or more wear points. An RF tag reader periodically monitoring signals from the at least one RFID tag. If the RF tag reader fails to obtain any signals from the at least one RFID tag, indicating a destroyed RFID tag, the user can be warned about a wear problem of that belt or tire. RFID tags can be distributed at different depths of the tire(s), or across the tread at the same depth, of the tire(s) to determine different wear problems. The same RFID tag can also be used for inventory tracking purposes.