The thing to be aware of is:
Heat always moves to cold!
Therefore, if you place the insulation on the outside of the basement, to keep the rooms warm, you have to heat the air in the rooms and the walls, ceilings and floors. As this structures will absorb an enormous amount of heat, before you feel warm.
The thing to do is place the insulation on the inside, so that you have a layer of sheet rock, then the vapor barrier, the insulation and the wall.
The same applies to the ceiling, sheet rock, vapor barrier, insulation, joists, floorboards.
And the floor, floorboards, vapor barrier, joists, insulation between the joists and under the joists.
Or floorboards, vapor barrier, insulation, concrete floor.
In most homes the largest loss of heat is through gaps, cracks and holes, when you join all the vapor barriers together, to create a sealed air tight box, this will make a very large difference to your heating bills, the insulation will help.
You will then need to install a controllable ventilation system, to get rid of stale damp air and to bring in fresh air, an extractor fan with a built in heat exchanger will solve this problem