In social cognitive theory, belief in the ability to manage emotions renders these emotions less aversive. Reduced emotional reactions to stress and greater self-regulation have been linked to lower neuroticism. The purpose of this study was to ascertain whether self-efficacy for regulation of distress/despondency (SEDes) and anger (SEAng) and self-efficacy for experiencing and expressing positive emotions (SEPos) predicted lower subsequent neuroticism. A second purpose was to determine whether these forms of self-efficacy buffered the relationship between perceived stress and subsequent neuroticism. Among 251 university students in the United States, perceived stress predicted 8% of the variance, and SEAng negatively predicted 2% of the variance, in time 2 neuroticism over 3-4 weeks. Contrary to hypotheses, high SEDes and SEPos did not protect against higher time 2 neuroticism when stress was high, but low levels of these forms of self-efficacy were risk factors for modestly higher time 2 neuroticism when stress was low.