I like to use cheats to set up the starting point for my played sims. I usually move them into whatever house I want with freerealestate (usually a big house or special style with only few and basic furniture inside) and then cheat their money back to 100. That way I can set up a specific feel for a story and have them build up their lives with very little savings but higher bills due to the big house.
And of course for setting up neighbours or cousins to visit. They get houses, jobs and a few skills that suit them. But this is only for 'supporting cast' as in sims I like to have around but never intend to play.
