You can make this into any type of journal you would like. I really wanted to make mine into a watercolor journal, so I used watercolor paper and a fun watercolor decoupage paper for the cover.
Tips
Download the template and follow the dimensions. Use a paper cutter and score board if you have them
Use gel medium or your favorite decoupage medium
Get the decoupage paper slightly wet before applying to reduce wrinkles
Use plastic to smooth the decoupaged paper to reduce wrinkles and prevent ripping
Fold the cover at the crease while the decoupage medium is still wet to reduce paper tearing
Use an awl or similar pokey tool to reduce hole size and prevent tearing
Try different types of paper signatures and different sizes of signatures (more or fewer pages per signature)
Use sting, wire, or plain wrapped elastic if you need to substitute elastic with barbs
Supplies
Cardstock
Decoupage medium (I used a gel medium)
Decoupage paper for the outer and inner cover
Watercolor paper or other paper for the inside signatures