Advise on best way to do this.

[Ctwizzy]

I have a Dialog which houses all my preferences that can be changed.
On save it saves all the information to an XML.

I am having trouble figuring out a good way to do this:

There is to be a setting which can have multiple entires.
So for example say I am trying to set the levels of users.
Level1 - Admin
Level2 - Asst Admin
Level3 - Mgmt
Level4 - user

if the user goes into the preferences these 4 will be displayed to them. But say they want more levels they should be able to add more in, or if they want to remove, they can, or rename.

The way I was planning on implementing this is:
it would show 'X' textbox's to the user with the levels
if they press the 'Add button' a new textbox with a blank entry would be created under the previous and they can enter in and save.
next to the textbox's would be a checkbox, if they check the box and press delete the textboxs with a checkbox with a check are deleted.
Rename would be simply done by changing the text in the textbox.

Upon exiting the dialog it resaves the settings.

Can anyone think of a better way to approach this?