He's trying to keep his work life and his family life 'in balance'. = He's trying to keep his work life 'in balance with' his family life. [=he's trying to give a proper of amount of time and attention to both his work life and his family life]
The discount 'balances out' the shipping charge. = The discount and the shipping charge 'balance' each other 'out'. [=the shipping charge and the discount together equal zero]
He needs to achieve/create/strike a better 'balance' between his work life and his family life. [=he needs to spend less time at work and more time with his family]
(..) Stop it! The Aquascum is programmed to scan your tank... every five minutes? Scan? What does that mean? Temperature degrees, pH balance normal. Nice. Curse you, Aquascum. - That's it for the escape plan. - Then what are we going to do... Darla! (..)2003 Finding Nemo