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In this study, we examined the relations between math anxiety, trait anxiety, and one’s perceived problem solving ability on a sample of 128 university students. Participants completed a revised version of the Fennema-Sherman Mathematics Anxiety Scale, The State-Trait Anxiety Inventory, and the shortened version of Problem Solving Inventory. The results showed a moderate negative relationship between trait anxiety and individual’s perceptions regarding his/ her problem solving abilities. More specifically, we found that trait anxiety was negatively related to perceived self-confidence to solve problems and ability to self-control the emotions and behavior associated with the process of problem solving. However, it was not significantly associated with the tendency to avoid/approach problems. Finally, the perceived problem solving ability did not mediate the relationship between trait anxiety and math anxiety. Besides examining the effect of particular personality traits, we highlight the importance of further investigating the role of age and environmental and contextual factors, as well as the frequency and intensity of threatening math situations an individual faces in his/her life in regard to math anxiety.