An anagram is a word or phrase formed by rearranging the letters of a different word or phrase, typically using all the original letters exactly once. For example, the word anagram can be rearranged into nag a ram, also the word binary into brainy and the word adobe into abode.

Some more examples of relevant, yet funny, anagrams are:
Dormitory = Dirty room.
School master = The classroom.
Conversation = Voices rant on.
Listen = Silent.
Astronomer = Moon starer.
The eyes = They see.
A gentleman = Elegant man.
Funeral = Real fun.

In order to use an anagram, Create an interesting phrase or name. Rearrange the letters in that phrase until a new phrase or name is revealed.
I find it rather funny that the anagram 'bad credit' to 'debit card' exists, as a clear representation of how many people flounder with money. ...
If you can rearrange your name into another word, your name and that word are both an anagram of one another.
Rearranging the letters of 'I love you' gives: O! You live!