Abstract: An insulating strip, including a support member and insulating member, is attached to a wood or metal stud/ceiling beam. The wall and ceiling board is then attached to the insulating strip to prevent heat/cold transfer from the outside into the room or from the room to the outside. The insulating strip includes a support plate or shaped member with an insulating member secured to the plate or inside the shaped member. The support member is made of one of metal, plastic and fiber glass. The insulating strip is secured to an existing stud or beam by fasteners with the insulating member adjacent to and contacting the existing stud or beam. A wall board is then attached to the support member.