See then that ye walk circumspectly, not as fools, but as wise,
The word "circumspectly" means "exactly" (NT: 199, akribos). The very description of fools vs. wise gives us a deeper understanding of this word. Scripture has a lot to say about this issue.
"The wise in heart will receive commandments: but a prating fool shall fall." (Proverbs 10:8)
"The way of a fool is right in his own eyes: but he that hearkeneth unto counsel is wise." (Proverbs 12:15)
"A wise man feareth, and departeth from evil: but the fool rageth, and is confident." (Proverbs 14:16)
"A reproof entereth more into a wise man than an hundred stripes into a fool." (Proverbs 17:10)
"A fool uttereth all his mind: but a wise man keepeth it in till afterwards." (Proverbs 29:11)
"The words of a wise man's mouth are gracious; but the lips of a fool will swallow up himself." (Ecclesiastes 10:12)
To walk as the wise (according to these few verses) would be to receive commandments, depart from evil, receive reproof, check our words, and speak graciously.
To walk as the foolish would be to reject commandments and thereby fall, walk according to what is right in our eyes, harden our back against any correction, let our mouth pour out abundant words.
The fool does not consider the path he is walking - he just walks, lives. The wise ponders carefully where he is walking, being sure to follow the right path. The fool does not care about the instructions of others. The wise thrives on following God and His Word.
When I consider the path I'm walking, does it look more like a fool or wise?