The only thing I would change here is “watch your thoughts, thoughts become words” and reverse it.
Your words are so often careless attempts at thought. First approximations of ideas. All too often, however, they are spoken to oneself and heard by oneself as truth. Be very careful about your words, they will go on to constrain oh so much.
Now, strictly speaking thought may come first. But, it’s that thinking about words which becomes so trapping, not the initial conditions that give rise to the words. Interrogate your language, distrust it, scrutinise it.
That's a nice way to phrase it! Google tells me this quote is from Ralph Waldo Emerson, who himself was deeply influenced by ancient Indian thought (see [1], e.g.).
“Sow an act, reap a habit
Sow a habit, reap a character
Sow a character, reap a destiny”