The relationship between trait anxiety and memory functioning in young children was investigated. Two studies were conducted, using tasks tapping verbal and visual-spatial short-term memory (Study 1) and working memory (Study 2) in preschoolers. On the verbal storage tasks, there was a detrimental effect of anxiety on processing efficiency (duration of preparatory intervals) on Word Span. Performance effectiveness (memory span) did not differ between high-anxious and low-anxious children. In the second study, evaluating memory updating in a dual-task context, high-anxious children performed worse than low-anxious children on two verbal working memory tasks. Therefore, when simple verbal storage is required, high-anxious children show only efficiency deficits; when executive demands are higher (i.e., verbal updating) both accuracy and efficiency are impaired. However, on the visual-spatial storage and updating measures, performance did not differ between the two anxiety groups. The results are discussed in the context of the attentional control theory (Eysenck, Derakshan, Santos, & Calvo, 2007). (Contains 3 figures.)