Abstract Repetitive negative thinking (RNT) has been associated with faster cognitive decline and accumulation of Alzheimer’s disease pathology in otherwise healthy older adults. According to the cognitive debt hypothesis, RNT functions as a psychological mechanism that depletes cognitive resources and increases vulnerability for dementia. The aim of this project was to examine trait and state RNT influences on working memory performance in daily life. Data for this project were drawn from the ESCAPE study, a systematic probability sample recruited from residents of the Bronx, NY. Participants (n = 265, aged 25-65, 64.9% female) completed brief ecological momentary assessments on a smartphone five times per day for 14 days, including ratings of current thought valence (pleasant-unpleasant) and a brief working memory task. Multi-level models were used to disaggregate trait (between-person) and state (within-person) effects of thought valence on working memory performance, while controlling for demographic and contextual covariates. The models also included linear and quadratic functions of time and session number to account for time of day and retest effects on working memory performance across the assessment period. At moments when individuals were experiencing more unpleasant thoughts than usual (state RNT), they made significantly more errors on the working memory assessment (β= 0.013, SE = 0.004, p = .002). However, there was no significant relationship between trait RNT and working memory performance. The results of this study provide support for the potential for RNT to deplete cognitive resources in the moment, thus contributing to poorer cognitive performance.