Only in a very indirect way, according to standard psychology. This is how it works: we think thoughts constantly, often automatically, that is, we think without thinking, judging, comparing, worrying, fantisizing, wondering, remembering, etc etc. Those thoughts influence our feelings, our emotional life, which is also in a state of flux. Finally, we act upon those thoughts and emotions, for example we speak, maybe in anger in response to something someone else said. That action in turn causes more emotion, maybe a sense of sorrow which leads to thoughts of regret, which may lead us to act in a different way, in an unhealthy way such as becoming withdrawn and avoidant, or a healthy way, like apologizing and trying to resolve the problem. Our choice of behavior, which is the factor over which we have the most control, then effects our thoughts and emotions, and the cycle continues.
It follows by reason that if we consistently reinforce certain thoughts, we will develop an emotional state consistent with those thoughts and then act upon them. This is the theory behind CBT (cognitive behavioral therapy) in a nutshell. Most psychologists agree that it works.
But spiritually, there may be even more direct consequences to our thoughts, and especially our words. The Bible says, "Death and life is in the power of the tongue." And " out of the abundance of the heart the mouth speaks. " The message here is that we speak whatever is truly part of our intellectual belief system and our emotional values, the things we really care about. When we speak it, we bring the power of the belief into manifestation, because we are then acting as God, who spoke the universe into existence, we being made in his image. Even without words, our actions speak, as is said, louder than words: "As a man sows, so shall he reap."
Thank God for forgiveness: "He has not dealt with us as our sins deserve." And for prayer, by which we can direct our thoughts and words toward heaven. Blessings to you in Jesus. Good question by the way.