Should I hoard cash during a crisis?

"Could you take $200 out in cash on your way home from work?”

My husband gets texts like this from me often. My natural inclination is to have a modest amount of cash on hand and at home at all times. This ensures I’m always prepared for stores with a minimum credit card spend and cash-only establishments. But those were becoming increasingly rare, especially during the pandemic. I was beginning to think that carrying cash was antiquated. And then Russia invaded Ukraine.

Suddenly, friends were talking about withdrawing cash to store at home. Personal-finance newsletters and social media accounts were advising followers to have cash at the ready. As stock markets reacted to global events and talk of cyber warfare spread, it seemed that even the most dedicated Apple Pay-using, card-swiping, noncash carriers were stashing some paper currency.