In short, the first Whim you see above the Sim's head is tied to emotional state and may change, while the other two are randomly generated based on what the Sim has been doing lately. The first article provides a lot of tips on saving and clearing Whims, along with how Whims are generated. Getting Satisfaction is something you should pursue day-to-day by completing your Sim's Whims and pursuing their Aspiration.
Satisfaction Points are the Sims 4's Lifetime Happiness, where Rewards are like the Sims 3's Lifetime Rewards.
Rewards in Sims 4 Come in Two Types: Single-Use Potions and Permanent Traits
The Sims 4 Rewards Traits List Store Satisfaction Costs and Reward Mechanics for Seasons Press 'G' then click the Present to open the Rewards Store
