Another way is to make two tags, one decorative and one w/ journaling printed on it, attach them with a brad or eyelet, and adhere to the page. The top tag can be moved aside to read the journaling underneath.
Have you seen those little coin envelopes or the new little matchbooks from K&Co? Either one can be used on a lo for journaling. These are especially nice when you're journaling about a private story that you don't want everyone to read.