Absolutely
I had ballet and tap lessons from 3, jazz dance, gymnastics and piano lessons from 5, am dram/drama clubs from 8, singing lessons/choir from 10 and contemporary and commercial dance from 12.
I danced and acted semi professionally (largely amateur work but some paid) from 15 - 21 and I am now a performing arts teacher in a private school which means I can a) do something I love all day every day b) work full time as a single mum and c) give my children a great education for very little. I dance, act and sing as lifelong hobbies too and still perform at an amateur level sometimes. Piano is invaluable as a director, choreographer and choir mistress.
My 14 year old started ballet, tap, jazz and gymnastics at 3, piano at 6, singing at 8, saxophone at 10 and contemporary at 11. She is now at a specialist independent school for dance and performing arts. She wants to be a dancer or musical theatre actress. If she makes it, great, it paid off. If she doesn't, she has a hobby for life and a choice of many other related careers if she so wishes. So it still paid off.
My younger children are currently on the same path.
Extra curriculars, rightly or wrongly, have always been my biggest priority for optional finances. Works for us.