Final answer:
To avoid the monthly maintenance fee on Anytime Checking, regularly balance your checkbook, pay bills on time, and compare various banks' offerings to find suitable terms that might provide fee waivers. Additionally, understand the differences between checking and savings accounts and maintain minimum balance requirements when applicable.
Step-by-step explanation:
To avoid the monthly maintenance fee on the Anytime Checking, a student can ensure they are balancing their checkbook regularly to manage their money effectively and keep track of their cash flow. This practice helps to avoid overdrafts and the associated fees that come with having insufficient funds in the account.
Additionally, maintaining financial health can be improved by paying all bills on time and being cautious not to overutilize credit. When comparing banks, it's important to compare services, fees, convenience, and reputation to find the best checking account that suits your needs. Some banks offer accounts that waive the monthly maintenance fee if a certain minimum balance is maintained, or if the account holder meets specific transaction or direct deposit requirements.
Finally, understanding the distinction between checking and savings accounts is essential, as checking accounts offer easy access to funds and facilitate transactions, whereas savings accounts may offer interest but typically have withdrawal restrictions.