"Your system has run out of application memory" error after downloading Big Sur on 2017 MacBook Pro 13in

I recently downloaded Big Sur on my MacBook Pro (about a month ago) and I keep receiving an error "Your system has run out of application memory." I have never received this error before moving to Big Sur and am wondering what I can do to increase performance and prevent my computer from shutting down applications without warning?

I am a grad student and I can't have all of my applications force quitting without warning!

I wouldn't be so concerned if this had never happened until Big Sur. Nothing about my computer use has changed from before/after upgrading to Big Sur. Is there a setting I need to adjust? Or do I need to delete data from my computer?

Help!