Air sealing and thermal bridging are two significant issues. Nothing new by stating that.
If 2x4, I'd recommend 16" OC if allowed and 2" XPS rigid foam board in the exterior. Set the sheets tight and tape the seams, or gap the sheets by about 1/4", use canned foam to fill the gap. Very tight.
Use vertical furring strips over the foam, screwed through the foam and into the studs. Siding gets fastened to the furring strips. Essentially a rain screen. Properly detailed you'll get great thermal performance.
If 2x6, consider 24" OC. Lay out your windows so a king stud naturally falls where a wall stud would. You can do that with the 2x4 wall mentioned above. Doing that plus efficiently framed corners will save a few sticks of lumber, but also minimize thermal bridging.
Spray foam can be out of reach $$, but dense-packed cellulose is affordable. And with a bit of practice at the start up, it can be done DIY. And it performs a helluva lot better than FG batts.
Another alternative for thermal bridging is frame your wall conventionally then add horizontal 2x2s on the interior side of the wall. Space the 2x2s 16" vertically. Net the interior then blow in dense packed cellulose behind the netting. Thermal bridging is minimized, dense-pack is so much better at minimizing air infiltration than FG, and it deadens sound transmission better as well.
Myriad ways to skin this cat.


