Recent studies have shown that purpose in life promotes quicker emotional recovery from negative experiences and greater self-regulation on boring tasks. In two studies, I investigated the role of purpose in predicting the regulation of emotions, thoughts, and behaviors after experiences of failure. In Study 1, an online survey among adults in the United States revealed significant positive correlations between sense of purpose in life, mood ratings, and indicators of successful coping in response to test failure. No relationship was observed between purpose and persistence on test problems after failure. In Study 2, a laboratory experiment using college students showed that writing about one's purpose prior to failing predicted subsequent levels of positive mood, negative mood, and state self-esteem, and purpose did predicted either persistence on test problems or time spent on an alternative activity after failure. Together, these findings suggest that purpose in life is an important resource for regulating emotional and cognitive responses to failure.