This Word Faith, name it and claim it, blab it and grab it is the most heinous and egregious heresy to hit the late 20th and 21st centuries.
It pulls things out of context. It makes everything, "all about me!"
But, looking at your post, you haven't even gotten the verse right.
"21 Death and life are in the power of the tongue,
and those who love its use will eat its fruit." Prov. 18:21
"There is power and life in the tongue." This is what you posted! Not at all what the real verse is saying. This tells me you either don't know what these charlatans are saying, or they are misquoting it. But, since you didn't take the time to look up the verse, you will have to say which. I can't really refute something that is not in the Bible.
First read all of Proverbs 18 in context. Is it a repeated theme in this chapter? No! In Proverbs? No! So, consider it a wrong interpretation, and totally out of context. It is reading INTO the Bible what you want it to say, rather than taking out of the Bible what it is actually saying.
And if you look at James 3, you will see a long interpretation of this verse, and it has nothing to do with getting rich, or getting a car by merely laying hands on it. James 3, which is a very good explanation of what the tongue does, and it is NOT name it claim it. The disciples and apostles would have been shocked to death if they heard this Word Faith explanation.
"Not many of you should become teachers, my brothers and sisters, because you know that we will be judged more strictly. 2 For we all stumble in many ways. If someone does not stumble in what he says, he is a perfect individual, able to control the entire body as well. 3 And if we put bits into the mouths of horses to get them to obey us, then we guide their entire bodies. 4 Look at ships too: Though they are so large and driven by harsh winds, they are steered by a tiny rudder wherever the pilot’s inclination directs. 5 So too the tongue is a small part of the body, yet it has great pretensions. Think how small a flame sets a huge forest ablaze. 6 And the tongue is a fire! The tongue represents the world of wrongdoing among the parts of our bodies. It pollutes the entire body and sets fire to the course of human existence—and is set on fire by hell." James 3:1-6
"For every kind of animal, bird, reptile, and sea creature is subdued and has been subdued by humankind. 8 But no human being can subdue the tongue; it is a restless evil, full of deadly poison. 9 With it we bless the Lord and Father, and with it we curse people made in God’s image. 10 From the same mouth come blessing and cursing. These things should not be so, my brothers and sisters." James 3:7-10.
James is talking about the damage and evil we do with our tongues. Hurt feelings, lies, slander and all kinds of sin. And how hard it is to control the tongue. Instead, James encourages us to bless people with our tongues. That means "be happy" in modern English. So, when we love others, do good, that is a blessing. The power of bullying is where we see this warning enacted over and over again. Think of the number of people who were verbally bullied, by parents, teachers or other students, and how it damages their minds. They become suicidal. That is the power of the tongue. Never to create something material out of nothing. Word Faith has such a low view of God and such a deceptive view of themselves.
So, do as I do! Check out what the actual verse is, and read it in context, instead of believing some evil Word Faith teacher, who has the ulterior motive of making money off of you! Lots of money.
So, time for the OP to start reading the Bible, from cover to cover, daily and on your own. You will always be deceived by these false teachers and prophets in any matter, if you do not read the Bible on your own. Read everything in context. What does the whole chapter say? What does the rest of the Bible say about this? What is the connection between these "sound bite" partial verses, and the book? The whole Bible? In light of Jesus Christ? Who is sovereign? You or God?
Please turn off your TV or YouTube, and stop listening to these false teachers. God has so much to offer in his Word! Why would you trust someone after your money, with no knowledge of the Bible and how to correctly divide it, instead of praying and reading it yourself?
The most basic rule of "Bible Interpretation," is looking not at something in isolation, nor looking at the so-called "plain meaning" of the text.* You have to consider who Jesus was speaking to. Was it written to us somewhere in the future, or just to his people. Think about their world view. Did a Jew ever start "speaking things into existence?" That is just pure new age mysticism. I could tear that apart too, but instead, I will leave you to read your Bible, and find out the message. It is not about materialism, but about Jesus Christ the sovereign Lord of Creation and salvation. Don't take that very wrong path, to becoming rich or in perfect health, please!
*I am not saying that the pgglan meaning is always wrong. It is a good method. BUT, not the way the Word Faith people use it, to in fact twist the plain meaning of the text, to convince you both of a lie, and to give them money!