As a simple fix you can buy a freestanding bobbin winding device online, this will wind a bobbin for most machines so is a simple fix and can be used at any time.You may also want to remove the top cover of your machine and oil internally, it may help with the fly wheel issue. There is an oiling diagram for a White 1510 on this page
http://www.sewusa.com/Sewing_Machine_Repair/White_Sewing_Machine_Maintenance/White_1505_1510.htmIf your machine top cover looks similar and you can remove it then certainly use this image as a guide to oil in the arrowed places, then manually turn the flywheel towards you gently to spread the oil. Use a good quality clear machine oil, or Triflow if you can, it has silicone in and doesn't dry out and leave sticky residue like a mineral oil can over time.From reading the manual for the White 1418 on the Singer website, it looks like you hold the outer part of the flywheel and turn the inner knob towards you to disengage the clutch for bobbin winding. Is that what you have described above? If you don't have the manual you can download it from the Singer Instruction manuals page, link is
http://www.singerco.com/accessories/instruction-manuals, then type W1418 into the search field and click "search" then wait for the screen to load, you'll get a "Free download" icon on the right after a few seconds. Click this and wait again for the pdf file to download, it will take a bit of time depending on your internet speed.