In the current study, we sought to examine whether performance on several heuristics and biases tasks and thinking dispositions was associated with real‐life correlates in a community sample of adults. We examined performance on five heuristics and biases tasks (ratio bias, belief bias in syllogistic reasoning, cognitive reflection, probabilistic and statistical reasoning, and rational temporal discounting), three thinking dispositions (actively open‐minded thinking, future orientation, and avoidance of superstitious thinking), and a questionnaire assessing real‐world correlates in several domains (substance use, driving behavior, financial behavior, gambling behavior, electronic media use, and secure computing). Our heuristics and biases tasks and thinking disposition measures were modestly associated with several real‐world outcomes, including the domains of secure computing, financial behaviors, and the total scores. That is, better performance on the heuristics and biases measures was associated with fewer negative outcomes. We found that the associations were generally higher in males than in females. Heuristics and biases performance and thinking dispositions were unique predictors of real‐world outcomes after statistically controlling for educational attainment and sex differences. Copyright © 2016 John Wiley & Sons, Ltd.