Emilie- Bear in mind that while I do have an educational background in biological research, I am not a physician. By the looks of your picture (which is quite helpful actually) it does not have the same characteristics of "ringworm". Ringworm appears as a line that forms a ring (though not always circular) with a break in it- redness, bumps and irritation along that line, usually leaving a patch of skin in the center that appears normal. In treatment of ringworm (topical) the fungus under the skin starts to move in order to survive, making it appear as though it moves like a worm. I am not saying that it is not ringworm, just that it does not appear to be ringworm from what I can see. There are many very common things that your red spot may be including but certainly not limited to- skin infection in the hair follicle (there are several that are common), hives, or allergic reaction- etc. I have had allergic reactions where it has been one spot on my leg that looked similar to yours, but over a period of a few days, they had multiplied and then I had too many to count. I have also seen something similar in a patient case, it was on the chest and it was a yeast infection in the epidermis. I am not suggesting that either of these explanations are accurate in determining what your red spot is actually caused by, but that it is not uncommon and should be looked at by someone who can adequately diagnose it.
I looked at you profile and saw that you reside in the states. You can go to a pharmacy (a Walgreens, or Rite-aid, or whatever you have out there on the east coast) and sometimes they can help you in determining what it could possibly be. If you do not have insurance (and too many people there do not, but, grrrr) then you can try to find a clinic or health center that takes patients without insurance and provides their services at extremely low costs. Often depending on your income level, some clinics will provide services free of charge, or their payment is based on a sliding scale. Try using your favorite search engine and look up the words- no insurance health clinics ____ (add your state, or city in the blank).
I wish I could help more, but this is all that I can do from here.