you will find 3 steem power in your wallet. steem power helps you on the site as it determines your voting power. By posting like you do now, and commenting like I do now, you can earn steem dollars and stem power. Steem dollars can be converted to steem. You can transfer both steem and steem dollars to an exchange or sell it to other users. You can convert steem to steem power to get more powerful on the site. converting steem dollars to steem takes 1 week. steem to steem power is instant, converting steem power back to steem is spreaded out over 2 years.
Hope this is useful!
Thanks so much for your helpful reply! Where do I find my wallet? And...isn't there something I have to do with 5 of the 7 dollars, to activate or something?
Hit the round avatar icon in the top right, then choose Waller from the menu.
At this point I think it's ok to do nothing with the money you have. Once you've collected some considerable amount of STEEM you might want to power them up or convert to Steem Dollars. Here's a brief explanation of these