How to create a static home page?

When I initially created this blog, it was with another theme and after finding this wonderful theme have converted it. And, the "Home Page" had all the postings.

Now, I have created a static page that I wish to be my "Home Page."

For the time being, I have created a "work around." However, when anyone goes to my URL,
http://samtom.net/blog they go straight to the default home page that's currently labeled "Postings" rather than to the static page I've designated as "Home."

Also, this static page is titled "Home" which puts the link in link area, but also places a bolded "Home"
at the beginning of the static page. How do I eliminate the bolded "Home" in the body of the static page?

How do I get all in the proper slots so everything works like it should including the proper order of the links above the header?

Many thanks,

Tom