From Moyogalpa port area there are direct buses to Balgue at 8:20 a.m, 10:15 a.m, and 3:45 p.m. You can also take a bus from Moyogalpa to Altagracia (leaves at least once per hour) then take another bus from Altagracia to Balgue. Buses do not run to/from Balgue on Sundays.
The town of Balgue is small and can easily be walked in a few minutes, however a system of footpaths connect Balgue with all the neighboring villages and farms. A day can be spend wandering the fields and paths, a hearty "buenas" usually enough to lead to multiple adventures.
Climb Maderas Volcano, take in the sights from atop the muddy mountain, and then wander in the petroglyphs laden fields around Finca Magdalena.
After eating the yummy if slightly over-priced gallo pinto at Finca Magdalena, wander down the road to the blue pulperia and order queso frito with tostones. Drink it with a Tona and watch as the entire town of Balgue wanders by. On the road to Santa Cruz from Balgue are a few local restaurants and Cafe Campestre, a popular place to eat.
There are 2 good places to get a drink in Balgue, Cafe Campestre on the road out of Balgue to Santa Cruz and Madronal and El Rinconsito on the corner of the road up to Finca Magdelena.
There are plenty of places to stay in Balgue, one option is 'Finca Magdalena which is a farmhouse on an organic coffee plantation near the city, it's set on a hillside with gorgeous views of the volcanoes, lake, gardens, and sunsets, complete with hammocks, internet, and trails for exploring. Dorms for $4.60 USD or private rooms from $8. Cheap beer, rum & full meals from $4.
Another place is Project Bona Fide. They offer dormitory rooms for $25 a night which includes three square meals (except Saturday night), any fruit you find on the farm, and a tour of the farm. The price is cheaper if you volunteer for 4 hours in the morning. They also offer a private room for $23 a night.
Another is Cafe Campestre which has 2 private rooms in Balgue and is a popular place to eat and hang out, known for its good food using local produce. It's in Balgue on the main road and is a good place to sit and people watch. Double rooms are $15.