Facebook privacy settings just got even more better. This was long time coming. Now you can selectively share your posts with your friends, add places, change visibility of a post after you post it and much more.

1. Hide status updates from your boss

Custom Privacy – This is a feature that was already available with Google +. It allowed you to select which “circle” you wanted to share your posts and update with. But this wasn’t available with Facebook – yet. Now, while updating your status, there shall be a tiny button available next to the text area where from you can select whom you want to share the update with. Thereby, you can avoid it from showing up in those people’s stream you want to hide it from.

You can select the people you want to hide the posts from, manually or you can create a group of them and select the group, so the post won’t be shown to them.

2. Tag friends on status updates

Well, this one was already available, where you could mention someone in your comment or status update with the @ character, but Facebook now went a step ahead and added the tagging feature on to your status updates. Now you can tag someone right within the status update. So, let’s say you’re at a meetup at this café, and want to tell everyone whom you’re with. Select each companion’s name and tag them in your status update. Simple. Now, is this good or bad, we’ll find out later.

3. Add location to status updates

Now, you can add the location where you are right into your status updates by simply, clicking on the place and selecting the region from the drop down. If you’re concerned about privacy issues, you might want to skip this.

4. Approve tags on your profile before going live

No more automatic tagging. Automatic tagging was stupid. Anyone could tag you with anything. Not any more. If you wish to review your tags or approve them before you get tagged on to something, you can do that now. Just go to your profile privacy settings and click on “Tag Settings”. You can set there as to whether you’d like to get automatically tagged or like to approve tags before going live on your profile. This is a life saver to many folks!

5. View your profile as someone else

So, now you have set different privacy settings for different people, and you might be wondering how it shows up for each person. No worries. You can see the “View profile as” button right in your profile that will help you see your profile like how someone else sees. Select the person’s name and you’ll see your profile like he/she sees.

The new privacy settings can be accessed here.

What do you think of the new privacy settings?