Lake Effect Cloud provides its users with various capabilities to manage their instances efficiently. 

There are three options to shutdown an instances, each of them has its own benefits and billing method.

Shutting Down: Shuts down an instance and deletes any memory on the disk of the instance. Users can later start the instance again. Since it is still using the resources. Users will get billed. Below is a screenshot of how to shut down and start the instance later.

Shelving an Instance: When an instance is shelved, the instance is stopped and a copy of its image which contains all the data inside the instance will be saved as a snapshot. The instance will be removed but will appear with the status "Shelved offloaded". All the data will be saved in a snapshot and the instance can be unshelved and used again later. Since resources and images are not in use, the users are not billed when shelving an instance. 

To know more about Snapshots have a look at Snapshots in Openstack                      
Terminate/ Delete Instance: Terminating an instance deletes the entire instance with its files and data. 

See Also 
Attaching Volumes to an instance
Attaching additional networks to an instance