What should I do????

I'm 19 years old, he is 32 idk how this happen but it did the problem is that we haven't put a name yet to our "relationship" we both are shy to admit it. But we both know that we got something serious the problem is should we talk about it and put a name to it or this is not important? 🤔 i will love calling him bae or boyfriend but I'm extremely shy to do it plus it will be so awkward for both. ( yes we have had sex already)