The debt avalanche method is a strategy for paying off debts efficiently. It involves prioritizing debts with the highest interest rates first, while making minimum payments on other debts. This approach minimizes the total interest paid over time, helping individuals become debt-free faster. To implement the debt avalanche, list all debts from highest to lowest interest rate. Focus extra payments on the debt with the highest rate until it is paid off, then move to the next highest. This method is often compared to the debt snowball method, which prioritizes smaller debts first.