With the new location changes described at https://www.facebook.com/about/location https://www.facebook.com/about/location (which will start rolling out soon),

With the new location changes described at https://www.facebook.com/about/location https://www.facebook.com/about/location (which will start rolling out soon), you can attach a location to any status update, and this means you can use the status update privacy controls to control who see where you are - for example, using a friend list to only share with a subset of your friends.