Ok the first thing you need to do is take a deep breath and chill out - my parents are deeply religious, no sex before marriage kind of religious and they were great when I told them about being pregnant with my son.
Have you told the baby's father? You probably know this - but it is illegal for a guy to have sex when the girl is under 16 years of age.
Is there anyone you trust about anyone else you know? An aunt, sister... Etc? Who could help you work out the best way to tell your parents. Whetever you decide to do you need to tell your parents (depending on your location you may need their consent for an abortion if that's the route you want to go down.) also even if you don't then you will definitely need thier support. I wouldn't reccoment telling .A.N.Y of your mates no matter how much you trust them as nearly always word will get out and if your not ready to deal with it then it can be more stress. Also parents have a natural knack of picking up word off the street, lol.
Yes 14 is very young to be having a kid, I am 16 and I have a son. If you want to talk them pm me. Also another good person to talk to would be asbobash - she is 13 and pregnant and quite frankly inspiring. Not meaning to sound harsh but you did get yourself into this situ and now you have to get out of it. Ultimately there are two lives which will be affected.
Good luck I hope it all goes well - carrie.