An easy first step to lowering your cholesterol is having a bowl of oatmeal, oat-based cereal breakfast. Oatmeal contains soluble fiber, which reduces your low-density lipoprotein (LDL) cholesterol, the “bad” cholesterol. It gives you 1 to 2 grams of soluble fiber. Add a banana for another half-gram. You can also add nuts like almonds, walnuts. Current nutrition guidelines recommend getting 40 grams of fiber a day, with at least 10 to 15 grams coming from soluble fiber.