Being Engaged ‘Hasn’t Fully Hit’ the Couple (Exclusive Source)

Taylor Swift and Travis Kelce aren’t quite used to calling each other “fiancé” yet.

The singer-songwriter, 35, and the Kansas City Chiefs tight end, 36 — whose garden proposal took place over the summer after recording their New Heights podcast episode — are still settling into their new engagement status. The couple announced the happy news less than two months ago on Aug. 26 in an Instagram post liked 37 million times.

“Being engaged hasn’t fully hit either of them yet,” a source exclusively tells PEOPLE. “It’s still kind of strange and exciting and new to say ‘fiancé’ when they’re talking about each other, and they both kind of laugh every time they catch themselves saying it.”

Although the engagement news was huge — “the proposal heard ‘round the world,” as the groom-to-be’s brother, Jason Kelce, would put it — Swift and Travis have “just been taking it all in quietly” amid the release of Swift’s 12th studio album, The Life of a Showgirl, and Travis’ busy football schedule.

“Between the engagement and the album dropping, it’s been a huge couple of weeks, so they’re trying to enjoy some downtime together and let it all sink in,” the source tells PEOPLE. “Taylor’s been in this creative mode for so long that having Travis there through it, and now celebrating Showgirl with him, has been really special. He’s proud of her and she loves that he gets to see this side of her up close.”

The insider continues, “They’re not doing anything over the top to celebrate, just enjoying being together and having a little bit of normalcy before things pick up again. It’s been a lot of excitement all at once. They’re both just really happy. It’s been a whirlwind, but it’s the good kind. They know how lucky they are to be in this moment together.”

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A different source close to Swift tells PEOPLE that while the Grammy winner is “thrilled by the response” to her new album and the Official Release Party of a Showgirl theatrical event, she’s also “very excited” to shift her focus to wedding planning once her work commitments die down.

“She put so much work into this album and the film and seeing how fans have embraced both means the world to her. She’s been super focused on work commitments and hasn’t seen Travis much. She’s not kidding when she says she’s exhausted,” the source says. “She’s ready for a professional break so she can focus on the wedding. She’s very excited about planning the wedding.”

Back in September, another source told PEOPLE that the wedding ceremony — the date and location of which have yet to be revealed — will be kept “more private.”

“It will definitely be a private affair and not a spectacle,” the source said at the time. “They both have a close circle of friends, and they’ll respect their privacy.”