creat a post give label as privacy or anything and give link to that label in the footer of your blog. while creating post give an earlier date. its better to give the date when u start your blog because if u do not give date that privacy policy will be your latest post and comes on homepage. so give eearlier date.
Simply write your privacy policy in a post, post it! Then make a link at your footer or sidebar, and link it to the post and name it as "Privacy Policy", done!