How Latino youth cope with stressors may have implications for their adjustment. We examined how a temperamental characteristic (effortful control) and a contextual factor (economic hardship) were associated with Latino youth's coping. Individual differences in effortful control, a core facet of self‐regulation, may contribute to coping as effortful control is consistently linked to adaptive behaviors during adolescence. We examined relations of effortful control and economic hardship to active coping in a sample of Mexican‐origin youth (N = 674) across three time points (fifth to ninth grades). Although economic hardship negatively predicted coping and effortful control, effortful control positively predicted coping (controlling for prior levels). Findings support a resilience perspective by suggesting that effortful control may contribute to coping and thus counteract the negative effects of economic hardship.