Install fiberglass insulation in rolls by buying rolls that are the same width as the space between the shed studs. While wearing gloves and a mask, unroll the insulation between the studs. Keep the paper side of the insulation out and unfold the paper flaps over the studs on either side. Staple the flaps in place every 12 inches. Repeat for each section between studs, cutting the insulation when necessary from the paper side inward using a utility knife to make the cuts.
Purchase foamboard insulation in the same dimensions as the space between your shed studs. Insert the foamboard between the studs, using just friction to hold it in place, if possible. If not possible, screw the foamboard to the studs or the wall behind the foam board by drilling through the studs and into the foamboard, or by drilling directly through the foamboard into the wall behind. Cut the foamboard to fit the various sections of the wall using a saw.
Spray the entire interior area of the shed with spray insulation while wearing a mask. Target the spaces between studs and spray until the entire area between them is full. Spray all nooks and crannies in the exposed walls.