Memory balancing and optimization services (MBOS) control a size of a plurality of memory heaps, and a memory optimizer for allocating and de-allocating memory for a plurality of respective memory consumers. The MBOS may be instantiated within an application program such as a database management system providing services to memory consumers within the application. Alternatively, the MBOS may be instantiated within an operating system for providing services to memory consumers that are applications such as database management systems, e-commerce engines, operating systems, customer relationship management (CRM), enterprise resource planning (ERP), or supply chain management (SCM). Alternatively, an MBOS is instantiated within the operating system to provide services to applications and an MBOS is instantiated within each application to provide services to memory consumers within the application.