How do I make my Facebook timeline private?

[.]

I want my Timeline to be a "for me only" space. As in, no one can see my posts or status updates. I know it sounds counterintuitive for a social networking site but I want to make my Facebook account private, like a personal blog/diary. How can I do this?

Yes, I know I should go to Privacy Settings. But please give me specific instructions.

[Derek]

If you're just wanting to make a personal blog/diary, you're better off making an account on LiveJournal or BlogSpot. You can set it to private there more easily and it'll suit your needs.