This paper examines the relationship between financial loss and psychological well-being among victims of online romance scams in the Philippines using a quantitative, cross-sectional survey design. The study surveyed 384 Filipino social media users who had experienced or encountered love scams, collecting data on demographics, platforms used, scam tactics, financial losses, psychological distress, and help-seeking behavior. Findings show that victims were predominantly young, single women, most active on Facebook, with scams typically identified within one to three months of initial contact. The most common manipulation strategies were love bombing and emotional promises of a future together, while digital wallets (e.g., GCash, PayMaya) were the primary modes of financial transfer. Most respondents reported modest financial losses, but statistical analysis revealed a significant positive correlation between financial loss and psychological distress (increased sadness, stress, anxiety) and a negative association with quality of life. Psychological impacts included persistent sadness, self-blame, loss of trust, heightened suspicion of others, and increased caution in forming online relationships. Despite these effects, nearly half of the victims did not report the scam to authorities or platforms, often seeking no professional or social support, suggesting barriers such as shame, stigma, or limited access to resources. The study concludes that financial loss is a key driver of psychological harm in romance scam victimization and emphasizes the need for targeted awareness campaigns, improved platform monitoring, safeguards in digital payment systems, and accessible victim support services tailored to vulnerable populations in the Philippine context.