The Debt Snowball Method is a debt repayment strategy that focuses on paying off debts from the smallest to the largest. You start by listing all your debts in ascending order based on their balances. After making minimum payments on all debts, you allocate any extra money to the smallest debt until it is fully paid off. This creates a sense of accomplishment and motivation to tackle larger debts. Once the smallest debt is cleared, you move on to the next smallest debt, using the money you were paying on the first debt to accelerate payments. This process continues, creating a "snowball" effect as you gain momentum and pay off larger debts more quickly. The method emphasizes psychological benefits, helping individuals stay motivated throughout their debt repayment journey.