With the development of digital financial technology, financial behavior and financial literacy have become the focus of scholars’ research as well as the attention of the government and society in recent years. The article explores the level of personal financial literacy in the development of digital financial technology using a factor analysis model. A survey is conducted using 800 questionnaires to assess the basic financial literacy status of the population in Province A, and measurement analysis is carried out using factor analysis. Then a probit model was constructed from four aspects, namely, borrowing behavior, financial management behavior, insurance behavior and financial consulting behavior, to analyze the impact of personal financial literacy on financial behavior under the development of digital financial technology. In terms of the impact of financial literacy on financial behavior, financial literacy has a significant positive impact on the four financial behaviors of borrowing, wealth management, insurance, and financial consulting, and is significant at the 1% level. With digital financial technology support, the higher the personal financial literacy, the more rational the personal financial behavior.