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Intelligence gained outside of school. Just as useful as book smarts, and in many cases more so. It can be divided into 4 categories.

1.Getting Along With Others- Knowing which questions to ask and not asking too many,being polite and friendly, but also being assertive.

2.Common Sense- Knowing who you can trust, which areas in town are good and which are bad, etc.

3.Self-defense-Knowing how to fight and fend off an attacker, especially if you are small.

4.BS-detection-Knowing when people are trying to fuck you over, reading their intentions, and knowing that most corporate advertisements are complete bullshit.
Dave Thomas founded Wendy's without school because he had street smarts.
by twibbix July 25, 2005
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Someone who knows when to avoid potentially negative situations, that even with a favourable outcome, will not result in any value to them. Also able to read between the lines.
Tony did not have street smarts because he went down the dark alleyway instead of the one that had sunshine and flowers.
by Street smart May 01, 2009
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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"
by robon180 October 23, 2007
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A person who has alot of common sense and knows what's going on in the world. This person knows what every type of person has to deal with daily and understands all groups of people and how to act around them. This person also knows all the current shit going on in the streets and the ghetto and everywhere else and knows how to make his own right decisions, knows how to deal with different situations and has his own independant state of mind. A street smart person isn't stubborn and actually listens to shit and understands shit.
that dude actually understands alot of shit thats going on today, he's street smart
by Da ReAlisT September 30, 2005
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Street smarts is the ability to survive in dangerous situations, fighting skills, and able to blend in with many different types of people.
I went to Compton and I survived the night therefore I have street smarts.
by Goran2012 January 26, 2011
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The general definition of street smart is someone who is intelligent, has good common sense, knows how to handle bad situations, and has the skills necessary to function where they live (usually the ghetto or the streets). However, the term is usually used to contrast and compare with another term known as "book smart".

The stereotype of a street smart person is someone who is intelligent and knows how to handle important situations in the streets but is not as well-educated academically. However, the stereotype of a book smart person is someone who is upper-class and well educated but less knowledgeable when it comes to handling important situations faced in bad neighborhoods and lower-class city areas.

The more extreme and negative stereotypes are that street smart people are unintelligent and incapable of achieving a higher education, while book smart people are naive, easily manipulated, and have bad judgment in bad situations.

Both stereotypes aren't always true and any semblance of them are only due to different lifestyles and experiences.
Josh: Are you sure me and Jason will get along? Jason is street smart and I'm book smart. We will probably be very different from each other.

Mike: Nah, don't worry. Jason may be street smart but he is also book smart. I'm sure you two will have a lot in common.
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