Consider using an external hard drive if....
NOTE: If you "move" the files from your computer to a external hard drive after import, LifeFlix will lose connection to the files and not be able to play them. The files will not be lost and can be played using Quicktime but they won't appear inside the LifeFlix catalog.
By default, LifeFlix saves all video files to your computer's hard drive, or specifically in your Username/Movies/LifeFlix folder. If you'd prefer to save to an external hard drive, or change the computer destination folder, use the option called "Change Video Folder" under the LifeFlix menu.
Then click "Choose."
After changing the file destination, click the blue Import button and see the memories pour in!