Please help me with weight loss?

Im 5'7..and I'm about 180 pounds...over the summer I plan to loose 40 pound ..or atleast 30. For breakfast I eat cheerios...for lunch I eat a turkey sandwich on wheat bread..and I eat a luin cuisine for dinner...and usually between lunch and dinner I have an apple as a snack..I work out every day...whether its running on the tredmill or walking for an hour..most of the time i do both..i figured i should have a cheat day every two weeks...Is this a good plan???? Any suggestions???