How to increase PHP memory limit for wordpress

If you run into a problem where your wordpress page is coming up blank or timing out there is a good chance the PHP memory is timing out. Have a look in your server’s error.log file and you might see something like the following

[08-Sep-2014 12:35:06 UTC] PHP Fatal error:  Allowed memory size of 50331648 bytes exhausted (tried to allocate 7680 bytes) in /home/...

A quick way of fixing this without going near the php.ini file is by going to the wp-config.php file and entering the following:

define('WP_MEMORY_LIMIT', '64M');