How to run iTunes off external hard drive?

I wanted to know if it's possible to run iTunes and backup my iPhone to iTunes on a external hard drive. I just don't want all that memory on my computer. A simplified way of doing would be good. I'm running on a Mac by the way

You should be able to add an external hard drive easy, plug it in, mac will recognise the drive, open itunes go into options and change the location for the itunes folder to the external one.

Check the Apple discussion below regarding using an external drive. The answer chosen also has some excellent suggestions for preserving your iTunes library

  • Using my iPhone 5 as a USB stick/external hard drive? I need to move some stuff from my laptop (a Mac) onto my girlfriends laptop (a PC).Is there an app you can download or some technique?
  • Is the NAS (Network Attached Storage) the best external hard drive option for a home? I have been looking at the WD MyCloud 4Tb version specifically to store my iTunes music library and any videos I may have in the future. Been wondering if via the NAS, one can access their iTunes music in their cars without having to store the music on a local flash storage drive like on their iPhones. Everything can be remotely accessed through their NAS at home.
  • Iphone 4s memory saved on external hard drive? Please help? can i save / transfer data from iphone 4s to an external hard drive DIRECTLY? Via usb connection? My phone memory is full, so i want to get some space back on the iphone.
  • Importing Photos off Iphone to External Hard Drive? I don't have enough disk space to import photos from my iphone onto my macbook pro. I would like to import them directly from my iphone to my external hard drive. I have tried messing around with iphoto… And dragging the pictures to the external hard drive but it won't work. Anyone know how?