Scary proposal

So basically me and my boyfriend have been together for 3 years, he is always bringing up how he can’t wait to live with me and start a family with me and to finally get to propose to me. This has been a constant conversation for at least a year now.

As this year is now a leap year on feb 29th I’m thinking I want to propose to him!

I know his worries are cost of a ring for me, I’ve told him over and over that I don’t care for an insanely expensive ring I don’t want to put him through that.

I’m wondering if it’s a good idea if I propose to him or if that would take away the fun or opportunity for him cause I don’t wanna do that. But I’d love to surprise him this way and would like some ideas in the meantime?

Advice welcome!