Extracurriculars are actually quite an important piece in helping children develop social skills and respect for authority figures. It is important to remember though that too many activities can cause stress amongst them as well as on us when we are trying to travel from activity to the next. So try to let them find new interests but not putting too much on their plate at a young age.
Personally, I am actually quite fond of after school activities and watching them grow and develop their skills. They break the routine in life but I enjoy watching them in their activities and it has helped me discover a bond with them in being able to help them harness and grow these skills.
Although, it is not necessary, I have chosen to learn from their teachers so I am able to help them at home. It is a great feeling in being able to help them grow in areas in which they are having a little difficulty.
For the time being while they are young, I will be here to help them because I know there will be a time where they will no longer need my help for most things.