Cannot save image

Hello, I am trying to save an image and keep receiving an error message: "Could not complete Save as Command as there is not enough memory (RAM)"

When I try to open another image I get the message: "Could not complete your request because of a problem parsing the JPEG data"

any ideas? I'm a photoshop amateur and don't use it very frequently. the image I'm trying to save is a download photo invite that I want to edit with party details (basic text).

This is in Photoshop Elements 15