Absolutely! Practice is NOT important, gear is. What you spend money on will certainly make you better*
*Better gear doesn't make someone worse. Don't play better gear if you are allergic to better gear. Consult a doctor if using better gear. Serious side effects include GAS, wishing you played better and an overall loathing of your musical skills. Don't drink in excess with "better gear" and make sure that you are managing "better gear"
Ask your doctor about "better gear" and see if it's right for you.