I am listening to radio, amid all those Saturday-worries, sitting in my room. It is a great sunny day fortunately. I am really hopeful today of finishing my long-pending tasks. The anchors just used a phrase "hold on to". When it reached my ears, I couldn't understand its meaning. I was completely new to me. So I looked into my dictionary for its meaning. There I found a lot of other phrases that use the word hold. Hang on to something means " to hold firmly and not let it go". A related phrase is "hang it up" which means "to quit". It actually makes sense - when you say I am going to hang it up - it sounds more like hanging your clothes on the line. I am trying to make sense of it by its literal meaning. Another one related to it is "let it all hang out" which means to be completely relaxed. As you know hang out means to go out to enjoy and relax, away from your routine activities. So let it all hang out means - let everything relax. There is another one, generally used in informal conversation. It wasn't new for me and that is - hang on there! -- actually it is hang in there! It is used normally to say stay there and face the difficulties that you have to and I will be there to help in a while. Hang together means to be together in a times when the family or group is facing a danger or difficulty. When you say hang on, during your telephonic conversation, it means that you want the person to stay online, and wait for you until you come back.