Need help with sound setup

I'm making this to help a friend out.  He recently got an xbox one but he has no way of doing sound for it.  Previously what he had been doing for his setup using the PS3 was he had the HDMI outputting video to his monitor and outputted the sound through the composite cables which he meticulously hooked up to his speakers by using a thing that converted the red and white cables into an audio jack, then used a socket that allowed two audio jacks to connect. Now with the Xbox One its either the HDMI or the Optical audio port and he has nothing that supports either.  Is there any sort of low cost solution for him, despite however the quality is? He really just wants some kind of sound.

why cant he do the same thing he did with the ps3?

The Xbox one doesn't have any composite output. Like I said its only ports are HDMI and Optical Audio.

Does the monitor have a 1/8" audio out jack? If so he could just skip the red white analog to 1/8" adapter, have audio go out the hdmi on the xbox, and out again through the 1/8" jack on the monitor.

i guess he can get a DAC (digital analog converter) that accepts optical input and can output either RCA jacks or 3.5mm audio jacks.

No he doesn't.  That's actually the setup I use.

Thanks for the suggestion. Could you specify a certain model? I'm seeing a bunch that I feel the need to rigorously research. I've run into all kinds of problems before converting video and audio.

This or similar should do.

Thanks a lot! This is perfect.