In the past, many homes were built with unfinished basements and the homeowner used those dark, bare, usually damp spaces for storage, laundry, or large collections of spider webs and dust bunnies.Now a day If you are looking for something that you yourself can do for your basement walls so must be read this.

Look at the amount of moisture in your basement.  You should call a professional for ideas on how to get rid of water seepage. It will be money well spent and will prevent many problems later.

Estimate the amount of drywall and furring strips (long, thin wood strips which enable you to attach the drywall to the concrete face) you will need. For every 4 feet of wall, you will need one sheet of drywall (we are assuming that your ceiling is less than 8 feet!) and 4 furring strips.
Screw the furring strips to the wall leaving a space of approximately � inch from the bottom of the strip to the floor in case water seeps in. Make sure the strips are plumb (use your handy-dandy level) and drill holes about 16 inches apart into the wall (use a masonry bit). Drive in hardened concrete screws with your even-handier-dandy drill.
Estimate the amount of drywall and furring strips.Screw the furring strips to the wall leaving a space of approximately .Shim the furring strips to create a flat plane for the dry wall.. Both are available at your local home improvement store. Placing insulation panels between the strips increases the R-value of the basement. The R-value measures the basement’s resistance to heat loss.Consider turning off the water if you leave your house for a vacation or other extended period of time. A little planning before and after you finish your basement can preserve your hard work for years to come.