Are there any alternatives to insulating a basement with cement walls besides insulating all the walls with 3 inch fiberglass?

There are spray foam, rigid foam and fiberglass batts. Other than these insulations what are you looking for?

I was wondering if insulating cement basement walls is a must thing to do or high on the priority list in terms of insulation. If not what are some smaller/less expensive things I could do.

I have cement walls all around my basement with three windows.

Thanks.

It really depends on your climate. I live in Illinois where we can get below zero so , yes, insulation is important. You should glue a visqueen plastic vapor barrier to the concrete before anything. Where do you live?

In my area of more reasonable climate we are require to insulate only the above ground area, although most people insulate the entire wall once they finish off a basement.

Massachusetts

Your climate is colder than mine for sure. I would definitely insulate the basement wall. I'd also have a HVAC pro access my furnace to see if additional supply and return ducts can be installed, return is the more important of the two.