pinklily

I am having a problem with my computer. To start, I am running off of windows XP home. When I start up I get a message saying that I am low on virtual memory, and then another telling me (before I try to run anything) that the program I am trying to run can not be run, then, every time I try to open a program I get an error message telling me that I do not have enough memory left to run the program, even when I have nothing else open. I have tried control alt delete and restarting and all of that stuff, and eliminating unnecessary processes, but it doesn't help, in fact, it seems to be getting worse. Right now I have no control bar or items on my desk top showing up...safe to say, I am on another computer writing this.
What should I do? I have the restore disk on me just in case.