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1.
This happens to anyone whom has paid way too much for something, particularly a designer item that could have been purchased (especially a nice knockoff brand) for about 500% less somewhere else. It usually results in feelings of victimization, embarrassment, and guilt.
Stella realized she was the victim of wallet rape after spending $2869.00 at Neiman Marcus only to find virtually the same ensemble for $250.00 at Bebe Clothing.
by jasmine99999 June 04, 2009
 
2.
buying an Apple product.
Wallace: Hey dude, I just bought the new Mac Pro
Random Intelligent Person: You just got wallet raped man. You could build a better computer yourself for half the price.
Wallace: But. but. ummmmm. Apple is better because *insert reasons here that make no sense at all*
by DreadPirateSherberts October 26, 2013
 
3.
It's Steam Christmas Sale.
Wallet rape is imminent.
by Shezzar January 04, 2014
 
4.
Being forced to hand over money to your bitch to avoid the consequences
Dave: I got wallet raped last nite!

John: She threated not to give you head?

Dave: No, this time she refused to do the laundry unless I gave her a fifty

John: That sucks. What a rapist!
by billycakes October 25, 2009