Debt repayment strategies are methods used to pay off outstanding debts effectively. One common approach is the debt snowball method, where individuals focus on paying off the smallest debts first while making minimum payments on larger ones. This strategy can boost motivation as debts are eliminated quickly. Another effective strategy is the debt avalanche method, which prioritizes debts with the highest interest rates. By paying off high-interest debts first, individuals can save money on interest over time. Both methods require a budget and commitment to ensure consistent payments and ultimately achieve financial freedom.