There is no worse feeling than posting a status update for the entire online world to see and then realizing you spelled one of the words wrong. We have all done it at one time or another and while embarrassing, sometimes it just better to leave them alone.
So say you post your status update and then five minutes later you realize you misspelled something. Your first reaction would probably be to delete it and repost, but who knows how many times the post has been retweeted or shared by that point. It becomes an even bigger disruption when other users click on the post you deleted and are redirected to an error page.
Your best bet is to make the correction in a comment below the post, and of course, thank any fans that have already commented on your error for catching it. Facebook has even stepped up their game and started allowing edits to comments and posts, and even though the edits you make are still visible, it will make you seem more human and your fans and followers will appreciate you for it.