A method for balancing segmented rotor blades for a wind turbine may include determining a weight for each of a plurality of blade segments, wherein each blade segment extends between a first end and a second and is configured to form a common spanwise section of a segmented rotor blade between the first and second ends. The method may also include determining an initial static moment for each blade segment based on the weight of the blade segment, wherein the initial static moment of at least one of the blade segments differing from the initial static moments of the remainder of the blade segments. Additionally, the method may include adding mass to each of the blade segments to increase the initial static moment for each blade segment to a predetermined static moment, wherein the predetermined static moment is greater than each of the initial static moments of the blade segments.