You can use a dowel rod and saw-horses (or a bench) for balancing. Assuming your bearings are still good, put the dowel rod through the axle hole in the wheel and place both ends of the rod on the saw-horses. Spin the wheel lightly, and mark the very top of the wheel where it stops. Since the heavy part will settle on the bottom, add weight to the top. Keep doing this until the wheel is balanced.

This method freaks out a lot of people but I know it work just fine. Had tires balanced by this method up past 120MPH and no problems.

CC