Extruding Faces Inward, Evenly

Hi everyone,

I am trying to follow along with this Maya tutorial on modeling a Treasure Chest ( http://www.youtube.com/watch?v=1Q_HyTN2wps )

I am at the 11:16 mark, and having trouble scaling the desired faces inward (after extrusion) so that they are even (i.e. each face goes straight inward, not at an angle). The best I can achieve is as in this picture.

Here is my blend file: Treasure Chest.blend (418 KB)

How can I scale these faces straight in after extruding them?

To do so, instead of pressing E , press I (the inset tool) and validate.
Press F6 to make the Inset settings popup, set the “Thickness” to 0 and increase the “Depth” setting.

Or if you want to do it with the mouse, after pressing I move the mouse so the thickness become 0 , then hold CTRL and move the mouse to do the depth

Thank you Sanctuary, that is perfect!