The toy industry has its hall of fame and parents’ choice awards. I’m adding a third one to recognize favorite and innovative financial gifts for kids.

Call it the Money Smart Kids Hall of Fame.

I’ve picked the inductees to the inaugural 2019 class — gifts, products and services that fit the high standards of helping kids learn about all things money, the economy and the business world.

Readers get to nominate the next class in 2020. I will collect ideas all year and winners will be announced next December. Send me an email with your nomination and briefly tell me why it deserves hall of fame inclusion.

Here are the members of the inaugural class:

This game dates to 1903 and today has more than 1,100 versions. Surprise, it’s Monopoly. Parents have used this game to pique the interest of their kids in business, money and buying and selling properties since Parker Brothers began manufacturing and selling the modern version of the game in 1935.

Despite its slower pace and long playing time, this classic board game is still a kitchen table favorite. Though I love dice board games, the online version works for me.

The Game of Life has been around longer than Monopoly. Created in 1860 by Milton Bradley, this board game covers a life cycle of money management concepts. Kids steer around the board and make choices about college, careers, marriage, children, retirement, and more.

Payday rounds out the board game trifecta. The idea is to get from one payday to another with money left over. But along the way, players are tempted to take some chances, which could mean getting stuck with whopping bills at high interest rates to boot. Another Parker Brothers classic.

SimCity pays homage to one of the first and best of the dozens of software and online games that teach kids economic concepts mixed in with fun.

Released in 1989 and designed by Will Wright, SimCity revolves around building and developing a city complete with housing, police and fire stations, utilities and other services. Along the way, children learn about taxes, the economy and social policy.

When I was a young business reporter, my boss gave me a well-worn paperback copy of "The Richest Man in Babylon," published in 1926 by George S. Clason. Numerous times over the years I've highly recommended parents share this personal finance classic with their teenagers.

Its 144 pages are filled with common sense financial advice told through ancient Babylonian parables, such as the importance of paying yourself first, living within your means, long-term savings and investing in what you know.

Young Americans Bank is headquartered in Denver, but its customers reside all over the country. Young Americans was founded in 1987 by cable TV magnate Bill Daniels with the mission statement of "being a real bank just for young people that ... teaches financial education."

With more than 79,000 customers (up to age 22), Young Americans offers savings accounts, certificates of deposit, checking, debit and credit cards and personal loans. Its reach extends further with camps and classes through its umbrella organization, the Young Americans Center for Financial Education.

The 529 college savings account gets the hall of fame's lifetime achievement award.

When it comes to saving money toward college, a 529 is the best option for millions of families because of its attractive federal and state tax benefits. The 529 plans were created in 1996 and are named after a section of the federal tax code that authorized states to offer the accounts.

With tuition costs rising along with student loan debt, no wonder more than 40% of families have opened a 529.

Now, remember to send me your nominees for the next class.

Questions, comments, column ideas? Send an email to sbrosen1030@gmail.com.