Four studies were conducted to examine the relationship between future‐oriented coping and temporal discounting under different situational conditions. In Study 1, 138 participants were primed with either stressful or neutral stimuli, followed by a delay‐discounting task. In Study 2, 118 participants were primed with either stressful or neutral stimuli, followed by a task‐prioritization activity. The results of both studies indicated that future‐oriented coping had a significant negative association with temporal discounting or the number of rational choices in the neutral‐priming condition, but the relationship was not significant in the stress‐priming condition. In Study 3, qualitative data revealed that the major reason for shifting choices from larger but later payoffs to smaller but sooner rewards in a stressful condition was to reduce the stressful mood, create a positive mood, and promote a sense of accomplishment. This explanation was corroborated by Study 4, in which one group was allowed to choose an immediate payoff and the other group was blocked from choosing that immediate payoff. We confirmed that post‐test anxiety was significantly lower in the immediate payoff group compared with the delayed‐payoff group in proactive and preventive coping, using pre‐test anxiety as a covariate. Preventive coping helped to reduce anxiety levels in a stressful condition only when there was a choice to obtain an immediate payoff. These findings underscore the relationship between future‐oriented coping and temporal discounting, as well as the flexibility of discounting in the face of stress. Copyright © 2015 John Wiley & Sons, Ltd.