Please clarify if, when you say "save", you are talking about saving the project file (File/Save) or if you are talking about outputting (Sharing) a video.
Then tell us what type of camcorder your original video is coming from. And advise us which project settings you selected when you started your Premiere Elements project.
Finally, tell us how much free, clean, freshly defragmented space is left on your C or main drive. And, if you are editing to a second or external drive, tell us if this drive is formatted NTFS or FAT32 (as they come from the factory).
Other relevant information could include your computer specs, your operating system and the version of the program you're using. In order to give you specific advice, we'll need to know as much as possible about your specific situation.
Along with answering above questions, please mention that is it happening with a specific project or with a particular settings or it happens consistently on every project?