Step 3: Prepare the bottom of the bucket
With the scissors cut out a circle the same size as the bottom of the bucket.
Place the light socket on the middle of the insulation and trace around it. Then cut out a fraction of an inch inside your trace so that when you mount the light socket it extend slightly under the socket.
Turn the bucket upside down, place the insulation on the bottom of the bucket, then place the socket on top of it where it should go. Drill holes in the bucket through the mounting holes for the socket. (Note: This may not work if your mounting holes are not symmetrical. If they aren't just mark where the holes should go. Mine were so it worked for me.)
Now using the adhesive, glue the insulation to the bottom of the bucket.