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One approach the speaker suggests for managing stress and making better decisions is to zoom out and think about the long-term impact of a situation. By asking, 'Will this matter 10,000 years from now?' individuals can gain a different perspective and potentially alleviate pressure. The speaker also recommends using the concepts of time and volume to recalibrate meaning. By imagining if a circumstance were worse or if it were a regular occurrence, individuals can reframe their current context and view it in a more positive or manageable light.