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street-smarts 

all the education, business savvy, know how and skills that the person has acquired through personal experience, outside the official public education system and outside the family setting (without being taught by family members).
boy one: who do you think Donald Trump is more likely to hire at the end his show The Apprentice, is it someone who is school-smart and possibly Ivy League educated, or someone who has more street-smarts?

boy two: Dunno. we'll have to watch until the end of this current season of The Apprentice and find out.
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street smarts 

one who is knowledgible at some art of illegal activity. understands the code and conduct held within a certain crime family/ies.

the term came from the common street hoodlum who knows how to succeed in areas that don't necessaryly need a formal education to get ahead in life.

for instance a group(crew) of criminals enterprise at trafficing and selling narcotics. they need some type of illegal practice for processing, smuggling, marketing and laundering money for their underground buisness. since the buisness is illegal, they set rules and regulations to keep the buisness from toppling. in doing so they from a "family" to keep outsiders from interfering and make their own checks and balances within their own "family" inorder to get rid of any potential rogue members; some of the codes that one would hold is that they:
* did not cooperate with authorities
* maintained self-control in the face of adversity
* carried out vendettas to avenge any slight suffering by his family(gang)
* did not forgive or forget
* maintained his demeanor within his ranking in a criminal hierarchy

it could be as petty like knowning how to card a door open, start a car without keys to a professional con-artist, a hit man, loan shark, ect...
carlo gambino had street smarts. that's why he was known in his neighborhood as a wiseguy.
street smarts by x October 11, 2004

street smarts 

A dumbass's justification for why he sucks at life.
Dumbass Billy says, "I dun need no school, I have dun got street smarts."
street smarts by Adam Fuma August 1, 2004

street smarts 

a tv show that has the most stupid, idiotic, brain dead people that were ever born.
street smarts would probably ask the question "are you to stupid to live?" and "did your mother ever have any children that lived?" these are the people that could answer these questions and probably get them wrong.
street smarts by tomo'd July 20, 2008

street smarts 

Girl who knows how to give head.
"She got mad street smarts yo."
street smarts by odeon May 13, 2005

street-smarts 

all the education, business savvy, know how and skills that the person outside outside of the official education system and outside the family setting.
boy one: who do you think Donald Trump is more likely to hire at the end his show The Apprentice, is it someone who is school-smart and possibly Ivy League educated, or someone who has more street-smarts?

boy two: dunno. we'll have to watch until of this season of The Apprentice and find out.

streetsmart 

An individual who may or may not be schooled or trained academically but who possesses knowledge and wisdom applicable in the real world.
Eminem dropped out of school but due to his streetsmarts he made millions being able to connect and communicate with the urban culture. Streetsmarts are a foundational and essential element of street cred.

Previous generations referred to this trait as "the school or hard knocks"
streetsmart by robon180 December 29, 2007