There's no easy answer to that, lots of things to take into account. If it somewhat resembles natural language, then you're doing good, but that's still not all there is to it.
Aim to split up your code into functions so that any given piece of code only has a few things to keep track of.
It's very clear what the second one does. Knowing what the first one does, I have bit of a "ugh, don't wanna read through it" kind of reaction. It's diluted.
Comments can help a lot. You can try to write comments that describe what is supposed to happen, and then fill in the code. Don't describe the implementation, describe what's being done.
# get the word to translate from stdin
# print <all but the first letter> + <the first letter> + 'ay'
As a bonus, these are really good for comparing your code to your intentions, helps in debugging. helps in maintaining code too, that the intentions are stated. Both the intentions and their implementations can be checked to see if they add up.