PHOENIX -- The recent crisis on Wall Street has many people worrying about the safety of their money, whether it is placed in savings accounts or invested in a 401(k).

According to financial consultant Patricia Ternes from RBC Wealth Management, there are five key ways people can keep their money safe.

First off, Ternes said people should not revert to keeping their money under the mattress.

"The mattress is the worst place to have your money," she said. "Not all banks are going under, and the ones that are (failing) are FDIC insured."

Ternes recommended placing money in the money market, savings accounts and Certificates of Deposit. For the long term, investors should look at treasury or municipal bonds that provide solid interest rates, she said.

In addition, people should not sell solid stocks; they may be low now, but their value will probably increase, Ternes said.

On a related note, if a person is able to invest long-term, he or she should buy some stock, Ternes said. There are bargains available right now, and the market always comes back, she said.

Ternes said homeowners should also set up a home equity line of credit, if they can. This will provide a safety cushion in case they need it in the short term, she said.

Finally, Ternes said people should not panic -- the crisis will eventually pass.

"Everybody is running scared," she said. "If we don't panic, I think it will turn around."