This is it! But, in case anyone doesn't see exactly what Leanda means by "make another empty static page", it's this:
Create a new Page with whatever Title you want. Leanda chose "News". You can use "My Blog" or whatever.
It doesn't matter if you put anything in the Page Content box when you create the Page. Nothing will show up when you view it, and the only place you will see "News" or "My Blog" is as the text link to the page -- in the page navigation in the Sidebar.
After you create your new static page and Publish it, go back to Options > Reading in the Dashboard. That's where you selected your static home page in the first place (WordPress.org calls it a "Front page").
Select the page you want to use for the home/front page (if you haven't already), and then below that select your new page -- "News" or "My Blog" or whatever -- as the Posts page.
Click Update Options and you're done!