Karthika Suddha Padyami is the first day of kartika masa also called as Bali padyami because this padyami is named in honour of King Bali.
Important rituals to be followed on this day are
6.Navavastradi dhaaranam (wearing new clothes).
Among them most important are
Wake up early in the morning take a holy dip in near by river or canal and wear new clothes. First make an idol of king Bali with panchavarna and his parivara with rice flour. Worship King Bali with shodasopachara and make donations in the name of Him. On this day it is believed that King Bali comes to Earth and blesses his devotees.
2.Dyutamu: (Playing cards)
After Bali puja play this game but one has to complete this before sunrise. There is a belief that, the winner on this day will be successful in every work throughout the year.
In kartika masa donation of deepa to brahmins has great effect. In Padmapurana, there is a story about the peculiar efficacy of this Deepadanotsavam.
At the end of Kritayuuga, there lived a brahmin by name Devasarma in Mayapuram village. He was a good worshipper of Lord Surya(sun). He had a daughter Gunavathi, whom he married to his student Chandra. Once Chandra and Devasarma went to forest for fire wood and were kílled by a demon. Greatly disappointed by the news of her husband and father's ďeath, Gunavathi performed all the rituals (sradda karma) to be done after their ďeath. From then, she spent rest of her life performing karthika vratha every year mainly Deepadana until she ďied while taking bath in river Ganga during karthika masa. As a result of her kartika vratha, she obtained a place in Vaikunta. Lord Vishna and Godess Lakshmi were happy to see her in Vaikunta. At the same instance Lord Brahma was worshipping Lord Vishnu to incarnate on Earth. Pleased by the prąyer, Lord Vishnu incarnated as Srikrishna, Godess Lakshmi as Rukhmini and Gunavathi as Satyabhama. By the peculiar efficacy of Deepadana, Gunavathi got Lord Vishnu as husband (Lord Krishna).
Gokridanam means, worshipping Gomatha(cow) and make them happy. Because Gomata is considered as other form of Godess Lakshmi.
In the evening, worship Godess Lakshmi and offer Aarathi by suvasinies(married women).