Now, how can we use it? Let's say you are tired after working your butt off for the whole week and just this one time you want to stay in and relax in your pj's instead of going out. What are you going to tell your friends? – “I'm just going to hang around my house”. Fair enough.
Or when you have casually spent some time with a guy or a girl and your friend implies that the meeting was a date or whatnot and you won't have it. You say: "We were just hanging (out). Now, cut it out!”
As I said, one word – saves a lot of explaining.
work your butt off – zasuwać
stay in – zostać w domu
pj's – piżama
fair enough – w porządku, niech ci będzie
casually – niezobowiązująco
imply – sugerować
whatnot – inne takie
I won't have it! – Nie toleruję tego!
Cut it out! – Przestań!