What type of insulation should I put under my wooden floor in my basement.?

I would like to take up the old wooden floor in my basement (20ft x 16ft) and put insulation under it. the floor sits about 1 1/2 in above the concret and is probably sitting on 2 x 4's. I don't know what type of insulation to buy or what type of wood to put back down. I am looking for good material but not... show more I would like to take up the old wooden floor in my basement (20ft x 16ft) and put insulation under it. the floor sits about 1 1/2 in above the concret and is probably sitting on 2 x 4's. I don't know what type of insulation to buy or what type of wood to put back down. I am looking for good material but not too expensive. I can do the work myself but I need to know what supplies I need. can anyone help thanks
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