 [ Symptoms ] could eating red yeast rice every day help to lower my cholesterol [ Disease ] it depends on what else you are eating adding one healthy food to an otherwise lousy diet will not help in the long run oatmeal helps lower cholesterol but it will not help if you are sprinkling it on top of prime rib if red yeast rice is your choice for a grain you are adding more fiber to your diet which could help lower your bad cholesterol but do not weigh it down with a whole stick of butter yes