A pub restaurant operator is giving schools the chance to scoop a massive £500 with the launch of a children’s art competition, designed to encourage pupils to think about pocket money – and how it can be saved as well as spent.

Over 100 Fayre & Square pubs, famous for their value for money offering, have tasked primary school pupils from their region to design their own money box that will really coax kids into saving their pennies and putting their pocket money away.

The initiative follows research by Fayre & Square which showed that children who have to work to earn their pocket money, have a greater understanding of what things cost than those who are just given it.

Sally Wainwright, concept manager for Fayre & Square, said: “As a deal focused, family ‘leisure’ brand, we have seen firsthand how parents have sacrificed a lot during this recession, but have continued to find the money for good times spent together as a family. Whether the kids appreciate that is another thing.

“For that reason, Fayre & Square has teamed up with Wacky Warehouse to run a schools’ campaign that will get children thinking about money, albeit in a fun way.  Neither money nor games consoles grow on trees (unfortunately) and if we can get children to start saving a bit of their pocket money each week for something they really want, rather than just expecting it, we might be helping parents in some small way.”

Entry packs have been sent to a variety of primary schools across the UK but budding art enthusiasts can also download an entry form online at www.fayre-square.com.

Judges looked for the most colourful and imaginative entries.  The money boxes must be drawn but can be designed to be round, square, long, short, piggy shaped or dinosaur shaped, look like a friendly fairy or a menacing monster – it really doesn’t matter.  They just need to encourage children to fill them up with money and save up for something they really want.

The competition is running nationwide with a top prize of £500 for the winner’s school, £100 for the winning child as well as a celebratory feast for their friends and family at Fayre & Square.

Ten runners-up from across the country will also each win £50 for their school and a delicious meal for four at their local Fayre & Square.

Sally added: “As well as offering local children the chance to win money for their school, the winner and their family will also be treated to a free meal in their local Fayre & Square restaurant.  With offers such as two meals for £10, they can be sure of great deals all day, every day.”

The competition is open to children aged between five and eleven years old and entries must be received by Thursday 5 April 2012.