Not to be an evil person but?

I hidden on an item on eBay and won but now realise I can't actually afford it. Is there anything I can do to not pay for this item or do I have to just pay?

Added (1). I bidded on an item****

Added (2). I might ditch my eBay account and pretend I've died or something

Added (3). I contacted the seller, thanks for the advice guys. I feel extremely guilty and hope this passes soon. Best of luck.

Contact the seller and let them know you'll be unable to pay. They may still be able to give an offer to the second highest bidder at whatever they bid.

It's not good to do this.EBay eventually will ban you if you don't learn your lesson pronto.

You contact the seller and tell them and ask if they will delete your bid

No

Contact the seller and tell them you made a serious mistake.
Do it *immediately* and apologize.
You may get your eBay account taken away, but you can sometimes retract a bid. DO NOT think you're going to get away with not paying, because they know who you are. It's theft.