To use it, just type:
$ encfs ~/.encryptedstorage ~/secure
And follow the directions. You then will have a ~/secure directory where you can stash all the material that you would not want to become public if you were to lose your laptop.
But it gets better than this. You can use sshfs to store files on a remote server, and then use the sshfs-backed file system as your encrypted storage, you can then keep your files stashed on a remote server, completely encrypted.