You don't have to buy brand new games -- did you buy an XBox One or a 360? Because a 360 is totally reasonable at this point and can probably be found second hand for like $50...if you ran out and spent $500 on the One...ehhh. That might have been a bad idea.
Back to the games -- you can trade in games you've finished for other older used games. Or consciously choose games with high replay-ability (admittedly console games kind of suck for that, if you're not into FPS's).
If you bought a One I would strongly consider returning it if you still can, especially considering you have lots of consumer debt. I think most games will be retroactively compatible to the 360 for quite awhile because the latest gen consoles weren't as popular as Microsoft/Sony were expecting. So you can pick up a used 360 for much cheaper and throw the savings you get from returning the One at your highest interest rate debt...
Or you can switch to a PS3 and avoid having to pay for Xbox Live! I'm pretty sure PSN is free -- it used to be, but my household is much more into PC gaming so we don't really keep up with console stuff. We have a 360 and a PS3 but haven't even considered upgrading to the next gens. They're way too expensive for not that many new features, and there are very few console-exclusive games that can't be played on a computer.