Why is java eating up so much memory

Hi friends, I have a problem and I would need some help.
My PyCharm is constantly giving me "Out of memory" error.
Current Xmx is set to 750,
XX:MaxPermSize is 1024 and
XX:ReservedCodeCacheSize is 100.

Not to mention the fan is going like crazy. My PC is i7, 8GB of ram, on this I don't think I should be out of ram at all. I have few tabs on Chrome and terminal opened and nothing else.

I am running PyCharm 2.7 and have Java 1.7.0_21 installed on Ubuntu 12.04.LTS

What do you think the problem cold be (something to do with Java?) and how could I amend that. I really like PyCharm, but this way is constantly interrupting my workflow and making hard for me to concentrate on my work thus productivity is quite low for the last few days. I would not like to change it to some other editor but I will if I have to.


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