Lifestyle Points are a type of currency used to buy premium items and speed up actions. They can be earned, dug up, bought in the store for real money, or by watching videos and "viewing offers". Lifestyle Points are similar to Lifetime wishes in The Sims.
How to earn them
Players can earn LPs by doing hobbies that give players 1 LP each time a Sim reaches level 6 in the hobby. Completing a hobby continously can give players a lot of Lifestyle Points (doing the Cooking hobby gives you 5 LP, so using a lot of Sims to speed up the time and get all the utensils). Some hobbies have either 2, 3, 5 or 6 LP.
They can also plant a Lifestyle Point Lotus that costs real money (depending on the player's country and the amount needed) with the Jackpot being 500 LP.
Players can buy them through the Online Store with real money. In some updates, the LPs earned from hobbies sometimes decreases (for example, the Chocolatier Hobby previously had 3 LP when it first appeared in the 2016 Easter Update, but in later updates it dropped to 2 LP).