Lists are the best way of ensuring that what you post is seen by those you intend!
By publishing a post to a specific List of friends you can ensure you don’t embarrass yourself (too much).

Smart Lists:

From day one you will have some lists that Facebook will create automatically for you. These are the Smart Lists. These are populated and updated by internal Facebook processes. But fear not, you can still add and remove people as you see fit, to make them more accurate or appropriate. These Lists are based on items available from user’s profiles. Places of work, education and so forth are used to create lists of associated persons.

Custom Lists:

A powerful tool at your disposal is the ability to create your own lists. The are several ways to create Lists. My favourite, and the clearest, is below.

Creating a list:

In the left hand menu in Facebook is the list of popular lists you have already. Selecting More, next to Lists, gives you a list of all your, ahem, Lists. At the top of the screen is a Create List option. Select this and name your List and you’re away.

List Options:

The first thing you should do before adding anyone is ensure you are publishing what you wish to the list. If your status updates would be irrelevant to this list, you can exclude those posts from appearing to that list, or your photos or comments, etc.
At the top of the screen, when viewing a List, there is a Manage List option. Selecting this shows a drop down menu, including Choose update types…. Select and deselect as you see fit.

Adding Friends:

Again, several methods available for this. My favourite is available from the drop down menu under Manage List. Here there is an option Add/Remove Friends…. Simply select and deselect as appropriate.
Another method is to add users directly from their profile page.
At the top of every friend’s Profile is an option called Friends, selecting this allows you to add or remove the individual from your lists.

Also from here you have the option of creating a new List, which would also add the individual to the List.

List Visibility:

It is very important to note that your friends cannot see which Lists they have been added to by you. Indeed no one can see what Lists you have or have created. They are personal and private to you.