Go to the START menu, when you're in the game and in LIVE MODE.
From the START menu, press L1+L2+R1+R2 all at the same time.
A menu will pop up saying, "Are you sure you want to enable cheats? If you save your game with cheats enabled, that game will no longer be able to complete Challenges or Trophies."
Click, "I understand. Let the cheating begin!"
Another menu will pop up saying, "Would you like to save a copy of your current game without cheats enabled so that you can later resume your cheats-free, Challenges-enabled progress?"
This is entirely up to you. If you want to later resume the game that you had saved, without the cheats enabled, and the ability to win Challenges as well as Trophies, then simply click, "Yes, Save." If you want to resume playing with cheats enabled, without being able to go back on your earlier saved game that didn't have cheats enabled, then simply click, "No."
A menu will pop up saying, "Cheats are now enabled, etc," press X on your controller to confirm.
Now, press O to close out of the START menu.
Press SELECT on your controller and Click BUILD & BUY.
Next, press the SQUARE on your controller to OPEN THE CATALOG.
Scroll all the way down until you see MISCELLANEOUS DECOR and click on that.
A huge menu will pop up with all the items that you can decorate your home with. The first item will look like a llama and be called, "Spoot The Magic Llama." Click X to select that llama and choose a color for it.
Once you chose a color for, "Spoot The Magic Llama," press X to import it into your home.
Once you placed the llama where you want it to be, press SELECT on your controller again, and select LIVE MODE.
Find, "Spoot The Magic Llama," and press X to select it.
HINT: These cheats will never come off your game when load this game; as long as you have, "Spoot The Magic Llama," but they will be turned off, so you will have to enable them again, by going into this UNLIMITED CHEAT menu.
Half of the cheat results that you enabled, will remain on during the game and when you load it.
Like... The Unlimited Money cheat. If you have over $12,000,000, then you will remain with that amount of money forever, but the amount will decrease if you buy something.
Go on to build/buy, go on buy, click decor, misc and then the first thing on the list is a magic lama!! Buy it ( it is free) and every time you click on it and he motherload you will get 50,000 every time you click on it!!
But first you must enable the cheat codes. In the game,pause it and press L1, R1, R2, L2 at the same time and a message will come up. Accept it do the steps above and you will have unlimited money!!
Have one elderly sim and then your sim. Get the elderly to make many painting before he dies. After he dies wait a day or two and then sell the paintings. The paintings will be worth more now that the sim has died.