1. You can buy digital games from the online store for each console. You can also buy physical copies (CDs) of games as well. Just know that you have to buy the version of the console that has a disc drive. PS5 has a disc-less version that is a bit cheaper than the disc version. Same for Xbox...Xbox Series X has a disc drive, Xbox Series S does not

2. All versions of each console allow you to download games to them from their respective online store

3. The majority of games are usually $60 USD. However there are frequent sales to buy older games for cheaper. There are also independent developer games that are usually cheaper as well. In addition, Xbox has what's called Game Pass. Think of it like Netflix for games...you pay monthly and have access to hundreds of great games. PS5 has something similar. There's also PS+ which is a service that comes with paying a subscription for online access. This subscription is necessary if you want to play any of your games online. With PS+, every month there are 3-4 games they offer for free, and they're actually usually great games that would cost $60. I check every month for what they're offering, and if I like the games offered I "claim" them in my game library. This means that now as long as I pay for my online subscription, I can play those games whenever I want, even after the month they were offered. If I want to play one of those games, I then download it onto my console and am now able to play

4. PS5 and Xbox are gaming consoles like Nintendo Switch. Big differences are that the Switch is built to be portable while the PS5 and Xbox are not. Another large difference is the hardware, meaning the computer components that run the equipment. Since Nintendo Switch is built to be portable, it's hardware is inferior to what you get in a PS5 or Xbox. The superior hardware allows you to play games that are much more graphically impressive, as well as your console performing smoother when there's a lot happening in game. Another difference is game exclusivity. There are some games that you can only play on a specific console. You can't play Mario on a PS5 or Xbox, same as you can't play Halo on PS5 or Nintendo, same as you can't play God of War on Xbox or Nintendo. Much of what dictates the console you want can be directly correlated to the exclusive games for that console. Like i have only ever owned Xbox consoles my whole life. This lead to me missing out on a ton of Playstation games that were exclusives. So I bought a PS5 last year and am now able to play a ton of games I missed out on for the past decade. That being said, there are more than plenty of games that can be played on all consoles, or at least on Xbox and PS5.

5. I'm not experienced with this, but from what I understand monitors are superior to TVs as a display. I use a 4K TV for my PS5 and it looks amazing, so I never saw the need to use a monitor. Monitors tend to have a smaller display size as opposed to my 65 inch TV, and I prefer a larger display. This mostly comes down to preference

6. This is a loaded question as you're asking for games across 2 consoles and are largely based on what type of game genre you prefer. However, here are some of my favorites

Xbox: Civilization 6, Rocket League, Ark: Survival Evolved, Skyrim, Call of Duty (there are tons of them)

PS5: Ghost of Tsushima, God of War, God of War: Ragnarok, The Last of Us 1 + 2, The Forest,

In regards to having a tight budget, look for sales in the online stores. You'll see a lot of older games for dirt cheap that are just as good as many games currently releasing. I just bought The Forest a couple weeks ago on sale for $7 and it's amazing! It's at least an 8 year old game but just as good or better than anything currently releasing. Any other questions let me know, and best of luck!

PS: Sony is releasing PSVR2 2 next month, a separate virtual reality headset for the PS5. Unfortunately it's a bit pricey at about $600, which is the same price of their costliest model of the PS5. But just know that the Xbox doesn't have any virtual reality option, nor is there any news of them making one. Same for Nintendo. If you're interested in VR, it sounds like the PSVR2 is gonna be the most bang for your buck once it's out. Many high end VR setups cost thousands. You pay over $1k for the headset, then still have to buy a computer that's strong enough to run the high end headset you just bought which is going to probably at least be another $2k. So for PSVR2, you buy a $600 console and $600 headset and have a pretty high quality VR setup for $1200 or so.