There is a big difference between wisdom and knowledge, even though many people count them as one and the same. Knowledge is merely knowing various facts about a subject. With knowledge, we take exams and use what we have learned in school.
Wisdom, however, is using common sense and logic. Wisdom is knowing when and when not to do something, and how it might affect those around you. With wisdom, we go about our everyday life, judging our actions and others.