The purpose of this thesis is to investigate the ways in which emotion regulation and mood affects risk taking when it comes to decision making competence. Emotion regulation is an essential part of the attachment process, the development of an autonomous self and functional stress coping systems. Research indicates that there is a relation between a distorted emotion regulation and some psychological disorders like depression, PTSD, anxiety disorders and borderline (or instable emotional personality disorder). There is a definite need to analyze the relation between emotion regulation and decision making competence since it is relatively unexplored. A digital questionnaire was distributed amongst the participants. This questionnaire contained three different tests measuring mood, risk taking in relation to decision making competence, and emotion regulation strategies. Chi-square tests for independence were carried out to test the relations between emotion regulation and risk taking; mood and risk taking; mood and emotion regulation. The results showed no significance between any of the groups. However, there seemed to be a relation between mood and emotion regulation competence.