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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
They are on because there is a problem with them. Either one of them could have something small or major wrong with them. You are going to have to take it to a shop and have them fix it.
for one you can pull the codes and see what part of each system is malfuctioning, abs sensors are common as for air bag, clock springs are common issues, but first and foremost you need to count the flashes of the abs and or srs and reference the pulses to a code