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First of all, do you need an engagement party? No.

An engagement party was originally just a regular party where the father of the bride would announce the engagement to the guests. As with nearly every other wedding 'tradition' modern society has managed to commercial and capitalize on it. The guests had no prior knowledge of the engagement at these engagement parties, and gifts were not expected. Even today, engagement parties like you see in movies are more commonly practiced in the New York area, with a few in the Southeast.

Should you have an engagement party?

It's an excuse to eat party food, drink and celebrate with friends and family. So, that's a great reason to have an engagement party. If someone wants to throw you an engagement party, by all means, let them.

But they're expensive, so before you decide you need to throw yourself an engagement party, it's probably a good idea to consider your budget. Maybe just hosting a potluck dinner for your close family would be a great way to celebrate your exchange of promises!