This study examined whether individual differences in error-related self-regulation predict emotion regulation in daily life, as suggested by a common-systems view of cognitive and emotional self-regulation. Participants (N= 47) completed a Stroop task, from which error-related brain potentials and behavioral measures of error correction were computed. Participants subsequently reported on daily stressors and anxiety over a 2-week period. As predicted by the common-systems view, a physiological marker of error monitoring and a behavioral measure of error correction predicted emotion regulation in daily life. Specifically, participants higher in cognitive control, as assessed neurally and behaviorally, were less reactive to stress in daily life. The results support the notion that cognitive control and emotion regulation depend on common or interacting systems.