Ok I like this 16 year old and he likes me we both believe that you shouldn't have sex till you are married but it would be a secret so no one thinks bad things but I wouldn't tell my parents, I REALLY like him and he really likes me we liked each other for a year now I just don't know want to do please help me out

Any time you have sex (even with birth control), you risk getting pregnant. At your age and in your circumstances, being pregnant and having a baby would not be a good thing (for your health, for your parents, for your future plans for college and a career). You may say to yourself, "That won't happen to me," but if you read our Pregnancy board, many girls told themselves the same thing but still ended up pregnant.

And once you do it, you can't rewind the tape. The guy you are with now will very probably not be the one you marry someday.

I vote no -- no sex until you are emotionally and financially secure so that a baby would be a blessing, and not a handicap to keep you from achieving the things you dream about now.

Practice telling your parents you are pregnant?? And what if you do break up in 6 months, and he decides to tell someone ?

Well you don't want to be having sex with each other just because you "really like" each other. Can either of you afford a baby? Do you have jobs, insurance? How about telling your parents you're pregnant?
Stay away from sex and being alone with each other if you think that will happen.
How old are you?

Yes, it is wrong. Keeping any secret of this magnitude is wrong. Sex equals babies. There is no form of birth control that is 100% effective. Eventually you will get pregnant and the secret will get out.

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we both believe that you shouldn't have sex till you are married

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If you believe you shouldn't have sex until you are married, why are you considering it? If you are thinking about it, apparently your beliefs aren't as strong as you think they are.