The debt snowball method is a personal finance strategy that involves paying off debts in order of smallest to largest, rather than by interest rate. The idea behind this approach is to focus on eliminating smaller debts first, which can provide a psychological boost and help build momentum towards tackling larger debts. This method does not necessarily result in the fastest or most cost-effective repayment of all debts, but it can be motivating for individuals who want to see quick wins as they work towards becoming debt-free.